OTHERS 1. ANNOUNCEMENT PURSUANT TO PARAGRAPH 9.04(h) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR") 2. MONTHLY UPDATE OF ANNOUNCEMENT MADE ON 31ST JULY, 2019 PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR")

GETS GLOBAL BERHAD

Type Announcement
Subject OTHERS
Description
1.	ANNOUNCEMENT PURSUANT TO PARAGRAPH 9.04(h) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR")
2.	MONTHLY UPDATE OF ANNOUNCEMENT MADE ON 31ST JULY, 2019 PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR")

ANNOUNCEMENT PURSUANT TO PARAGRAPH 9.04(h) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR")

 

The Company wishes to announce that the Board of Directors, on 29 June 2020, has approved for its subsidiaries, Konsortium Bas Ekspres Semenanjung (M) Sdn Bhd ("KBESM") and Super Trans Composite Product Sdn Bhd (“STCP”) to accept offers to purchase the lands owned by KBESM under land titles PN 196598 (Lot 20810), PN 196599 (Lot 20811), PN 196600 (Lot 20812), PN 196601 (Lot20813), PN 196602 (Lot20814), PN 196603 (Lot20815, PN 196604 (Lot20816) totalling an aggregate land area of approximately 359,202 square feet for an amount of  RM9,518,856.00, and the lands owned by STCP under land titles PN 196594 (Lot 20806), PN 196595 (Lot 20807), PN 196596 (Lot 20808), PN 196597 (Lot 20809), PN 196605 (Lot20817), PN 196606 (Lot 20818), PN 196607 (Lot 20819) totalling an aggregate land area of approximately 354,035 square feet for RM9,381,940.00. The offers to purchase was received from Mr Teong Lian Aik (“the Offeror”) via letters dated 23 June 2020 and the prices being offered are based on the value of the lands only. All the lands are in located in Mukim Asam Kumbang, Daerah Larut & Matang, Negeri Perak.

The proposed sale to the Offeror is subject to the consent of Hong Leong Bank Berhad (“HLB”) and AmBank Islamic Berhad (“AmBank”) as holders of charges over the land titles for bank facilities extended to the Group. The proposed sale is also subject to approval of shareholders and other relevant authorities.

Pursuant to the Offer Letters, the respective companies shall enter into definitive Sale and Purchase Agreements (“the SPA”) with the Offeror or its nominee(s) within Fourteen (14) Days from the date of acceptance of the offer, which was 29 June 2020.

 

MONTHLY UPDATE OF ANNOUNCEMENT MADE ON 31ST JULY, 2019 PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MMLR")

 

Further to the Company's announcement dated 31 July 2019, 9 August 2019, 14 August 2019, 21 August 2019, 30 August 2019, 18 September 2019, 1 October 2019, 3 October 2019, 31 October 2019, 29 November 2019, 31 December 2019, 15 January 2020, 23 January 2020, 31 January 2020, 28 February 2020, 31 March 2020, 30 April 2020 and 29 May 2020 the Company wishes to update that the Group’s defaulted banking facilities still remains unpaid since the date of the last announcement. However, with the pending sale of the Group’s above properties it is anticipated that the defaulted banking facilities will be fully settled upon receipt of the proceeds from the sale.

 

 

This announcement is dated 30 June 2020.






Announcement Info

Company Name GETS GLOBAL BERHAD
Stock Name GETS
Date Announced 30 Jun 2020
Category General Announcement for PLC
Reference Number GA1-30062020-00163