BREM

0.820

+0.01 (+1.2%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS BREM HOLDING BERHAD ("BREM" OR "COMPANY") PROPOSED ACQUISITION OF 6 PARCELS OF INDUSTRIAL LAND AT PT 17393-17396 AND PT 17400-17401 SEKSYEN 20, BANDAR SERENDAH, DAERAH ULU SELANGOR, SELANGOR DARUL EHSAN BY BREM HOLDING BERHAD'S WHOLLY-OWNED SUBSIDIARY, BREM CONSTRUCTION SDN. BHD. ("PROPOSED ACQUISITIONS")

BREM HOLDING BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
BREM HOLDING BERHAD ("BREM" OR "COMPANY")
PROPOSED ACQUISITION OF 6 PARCELS OF INDUSTRIAL LAND AT PT 17393-17396 AND PT 17400-17401 SEKSYEN 20, BANDAR SERENDAH, DAERAH ULU SELANGOR, SELANGOR DARUL EHSAN BY BREM HOLDING BERHAD'S WHOLLY-OWNED SUBSIDIARY, BREM CONSTRUCTION SDN. BHD. ("PROPOSED ACQUISITIONS")

We refer to our earlier announcement made on 16 October 2020 (Ref No.: GA1-11032020-00033) in relation to the Proposed Acquisitions. Unless otherwise stated, the defined terms used in this announcement shall carry the same meaning as defined in the earlier announcement made.

The Board of Directors of BREM wishes to append below the additional information on earlier announcement made under Item No. 6 in regards to the basis of purchase consideration, for public release:-

The Board of Directors had done a price comparison of a piece of land at the vicinity held under H.S.(D) 54813, PT17391 Seksyen 20, Bandar Serendah, Daerah Ulu Selangor, Negeri Selangor.  The land was transacted on 27 September 2019 at a price of RM25/sq ft in comparison to our proposed acquisitions at RM12/sq ft.  The Management is of the view that the price for our proposed acquisitions is justified based the above market comparison.    

 

This announcement is dated 20 October 2020.






Announcement Info

Company Name BREM HOLDING BERHAD
Stock Name BREM
Date Announced 20 Oct 2020
Category General Announcement for PLC
Reference Number GA1-16102020-00129