PROPOSED DISPOSAL OF A FIVE (5) STOREY COMMERCIAL BUILDING WITH A POSTAL ADDRESS OF NO. 56, JALAN LARUT, 10050 PULAU PINANG WHICH IS ERECTED ON A PIECE OF FREEHOLD LAND ("THE PROPERTY") ("PROPOSED DISPOSAL")

MESINIAGA BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-31072017-00003
Subject PROPOSED DISPOSAL OF A FIVE (5) STOREY COMMERCIAL BUILDING WITH A POSTAL ADDRESS OF NO. 56, JALAN LARUT, 10050 PULAU PINANG WHICH IS ERECTED ON A PIECE OF FREEHOLD LAND ("THE PROPERTY") ("PROPOSED DISPOSAL")
Description
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED DISPOSAL OF A FIVE (5) STOREY COMMERCIAL BUILDING WITH A POSTAL ADDRESS OF NO. 56, JALAN LARUT, 10050 PULAU PINANG WHICH IS ERECTED ON A PIECE OF FREEHOLD LAND UNDER INDIVIDUAL TITLE NO. GRN 8892, LOT NO. 1047, SEKSYEN 13, BANDAR GEORGETOWN, DISTRICT OF TIMOR LAUT, STATE OF PENANG AND MEASURING APPROXIMATELY 1,590.91 SQUARE METERS IN AREA
Query Letter Contents

We refer to your Company’s announcement dated 27 July 2017, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1.        The existing use of the building.

2.        Whether any valuation was carried out on the Property; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value.

3.        The following additional information for the building:-

            (a)       the amount of lettable space;

            (b)       the gross built-up area of the building.

            (c)        the amount of lettable space available for letting and the occupancy.

            (d)       the percentage of occupancy. If currently let out, the details of the rentals or the area let out and the rental income per month or per annum.

4.        The proposed utilisation of the proceeds from the Proposed Disposal "fund the Company's operations" is not stated in Section 15. To reconcile and amend accordingly.

5.        The effect of the Proposed Disposal on gearing of the Mesiniaga Berhad ("MSNIAGA") Group.

6.        The timeframe for full utilisation of the proceeds from the Proposed Disposal is from when.

7.        Whether the investments to be invested in from the Sale Consideration are in similar, complementary or different business as MSNIAGA.

8.        Whether MSNIAGA has identified any investments in which the disposal consideration is to be invested.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

TAN YEW ENG
Vice President, Issuers
Listing, Regulation

TYE/NZ

Copy : Market Surveillance Dept. , Securities Commission (via fax)

Please refer attachment.



Please refer attachment below.

Attachments

Mesiniaga-Bursa-0002.pdf
37.8 kB



Announcement Info

Company Name MESINIAGA BERHAD
Stock Name MSNIAGA
Date Announced 01 Aug 2017
Category General Announcement for PLC
Reference Number GA1-01082017-00083