TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED DISPOSAL OF ALL THAT LEASEHOLD LANDS HELD UNDER TITLES NO. H.S.(D) 167540 P.T. NO. -, MUKIM DAMANSARA, DAERAH PETALING, NEGERI SELANGOR AND H.S.(D) 168507 P.T. NO. -, BANDAR SHAH ALAM, DAERAH PETALING, NEGERI SELANGOR TOGETHER WITH THREE (3) UNITS OF SINGLE STOREY DETACHED FACTORIES, A FOUR (4) STOREY OFFICE BLOCK, A SINGLE STOREY CANTEEN/STORE AND A GUARD HOUSE ERECTED THEREON FOR A TOTAL DISPOSAL CONSIDERATION OF RM69,500,000

AMALGAMATED INDUSTRIAL STEEL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED DISPOSAL OF ALL THAT LEASEHOLD LANDS HELD UNDER TITLES NO. H.S.(D) 167540 P.T. NO. -, MUKIM DAMANSARA, DAERAH PETALING, NEGERI SELANGOR AND H.S.(D) 168507 P.T. NO. -, BANDAR SHAH ALAM, DAERAH PETALING, NEGERI SELANGOR TOGETHER WITH THREE (3) UNITS OF SINGLE STOREY DETACHED FACTORIES, A FOUR (4) STOREY OFFICE BLOCK, A SINGLE STOREY CANTEEN/STORE AND A GUARD HOUSE ERECTED THEREON FOR A TOTAL DISPOSAL CONSIDERATION OF RM69,500,000

The Board of Directors of Amalgamated Industrial Steel Berhad ("AISB" or “the Company") wishes to announce that AISB had, on 26 August 2016, entered into a Sale and Purchase Agreement ("SPA" or the “Agreement”) with Daikin Malaysia Sdn. Bhd. (formerly known as O.Y.L. Manufacturing Company Sdn. Bhd.) (Company No. 112531-W) (“DMSB”) to dispose of all that leasehold lands held under titles no. H.S.(D) 167540 P.T. No. -, Mukim Damansara, Daerah Petaling, Negeri Selangor measuring approximately 28,325.21 square metres (“sq metres”) (hereinafter referred to asLand 1) and H.S.(D) 168507 P.T. No. -, Bandar Shah Alam, Daerah Petaling, Negeri Selangor measuring approximately 12,188.80 sq metres (hereinafter referred to as “Land 2”), together with three (3) units of single storey detached factories, a four (4) storey office block, a single storey canteen/store and guard house erected thereon with total built up area measuring 260,030 square feet (“sq feet”) with postal address Lot 11A, Jalan Utas 15/7, Seksyen 15, 40000 Shah Alam, Selangor Darul Ehsan (Land 1 and Land 2 are collectively referred to as “the Property”) to DMSB for a total disposal consideration of Ringgit Malaysia Sixty-Nine Million and Five Hundred Thousand (RM69,500,000) only (“Disposal Price”) subject to the terms and conditions as stipulated in the SPA (“the Proposed Disposal”).

 

Please refer to the attachment for details of the announcement.

 

This announcement is dated 26 August 2016.




Please refer attachment below.



Announcement Info

Company Name AMALGAMATED INDUSTRIAL STEEL BERHAD
Stock Name AISB
Date Announced 26 Aug 2016
Category General Announcement for PLC
Reference Number GA1-26082016-00017