TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY") PROPOSED ACQUISITION BY MAXIM HEIGHTS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAH SING OF APPROXIMATELY 4.515 ACRES OF LAND WITH APPROVED DEVELOPMENT ORDER IN WANGSA MELAWATI, MUKIM SETAPAK, DAERAH KUALA LUMPUR WITH AN ESTIMATED GROSS DEVELOPMENT VALUE OF RM378 MILLION, FOR A TOTAL PURCHASE CONSIDERATION OF RM61,974,077.32 ("PROPOSED ACQUISITION")

MAH SING GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")   

PROPOSED ACQUISITION BY MAXIM HEIGHTS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAH SING OF APPROXIMATELY 4.515 ACRES OF LAND WITH APPROVED DEVELOPMENT ORDER IN WANGSA MELAWATI, MUKIM SETAPAK, DAERAH KUALA LUMPUR WITH AN ESTIMATED GROSS DEVELOPMENT VALUE OF RM378 MILLION, FOR A TOTAL PURCHASE CONSIDERATION OF RM61,974,077.32 ("PROPOSED ACQUISITION")

The Board of Directors (“Board”) of Mah Sing wishes to announce that on 6 August 2019, Maxim Heights Sdn Bhd (“Maxim Heights” or “the Purchaser”), a wholly-owned subsidiary of Mah Sing had entered into conditional sale and purchase agreement (“SPA” or “Agreement”) with KLFA Properties Sdn Bhd  (“Vendor”) for the proposed acquisition of a parcel of prime land in Wangsa Melawati, Mukim Setapak, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur measuring approximately 4.515 acres for a purchase consideration of RM61,974,077.32 (“Purchase Consideration”).  The Land is purchased with the benefit of approved development order (“DO”) for residential development, enabling rapid speed to market to meet current market demand in the matured location.

 

Please refer to the attachment for further details of the Proposed Acquisition.

 

 

This announcement is dated 6 August 2019.

 




Please refer attachment below.



Announcement Info

Company Name MAH SING GROUP BERHAD
Stock Name MAHSING
Date Announced 06 Aug 2019
Category General Announcement for PLC
Reference Number GA1-05082019-00088