OTHERS EXTENSION OF TIME FOR FULFILLMENT OF CONDITIONS PRECEDENT IN RELATION TO THE JOINT VENTURE AGREEMENT FOR A MIXED DEVELOPMENT PROJECT ON A PIECE OF LAND IN BANDAR KUANTAN, KUANTAN, PAHANG

OCR GROUP BERHAD

Type Announcement
Subject OTHERS
Description
EXTENSION OF TIME FOR FULFILLMENT OF CONDITIONS PRECEDENT IN RELATION TO THE JOINT VENTURE AGREEMENT FOR A MIXED DEVELOPMENT PROJECT ON A PIECE OF LAND IN BANDAR KUANTAN, KUANTAN, PAHANG

Reference is made to the announcements of the Company made on 1 June 2015, 3 June 2015, 30 November 2015, 31 May 2016, 21 November 2016, 31 May 2017, 30 November 2017, 31 May 2018 and 3 December 2018 in relation to the Joint Venture Agreement (“JVA”) for a mixed development project on a piece of land held under H.S.(D) 19049 for No. PT 57721, Bandar Kuantan, Kuantan Pahang (“the Announcements”).

 

Unless otherwise stated, defined terms used in the announcement shall carry the same meanings as defined in the Announcements.

 

The Board of Directors of OCR Group Berhad wishes to inform that its 70% owned subsidiary, O&C Development (Kuantan) Sdn. Bhd. had at the request of SSPP Development Sdn. Bhd. (“SSPP”) vide SSPP solicitors’ letter dated 31 December 2019 agreed to extend the time frame for Conditions Precedent under Section 3 of the JVA dated 1 June 2015 to be extended for another one (1) year from 30 May 2019 and to be expiring on 30 May 2020 as SSPP’s application to the State Authorities for the conversion of the said land is still in progress.

 

This announcement is made on 2 January 2020.






Announcement Info

Company Name OCR GROUP BERHAD
Stock Name OCR
Date Announced 02 Jan 2020
Category General Announcement for PLC
Reference Number GA1-02012020-00050