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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS UTUSAN MELAYU (MALAYSIA) BERHAD ("UTUSAN" OR "THE COMPANY") PROPOSED DISPOSAL OF A FREEHOLD LAND HELD UNDER HS(D) 9228 PTD 7086 MUKIM OF SIMPANG KANAN, DISTRICT OF BATU PAHAT, STATE OF JOHOR AT NO. 19 & 19A, JALAN MENGKUDU, TAMAN MAKMUR, 83000 BATU PAHAT, JOHOR

UTUSAN MELAYU (MALAYSIA) BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
UTUSAN MELAYU (MALAYSIA) BERHAD ("UTUSAN" OR "THE COMPANY") PROPOSED DISPOSAL OF A FREEHOLD LAND HELD UNDER HS(D) 9228 PTD 7086 MUKIM OF SIMPANG KANAN, DISTRICT OF BATU PAHAT, STATE OF JOHOR AT NO. 19 & 19A, JALAN MENGKUDU, TAMAN MAKMUR, 83000 BATU PAHAT, JOHOR

We refer to the Company’s previous announcement on 12 July 2019 and 24 July 2019.  Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the said announcement. 

 

The Board of Directors of Utusan wishes to announce that the Company (hereinafter referred to as “the Vendor”) had on 7 August 2019 entered into a Supplemental Agreement with Mr Te Ju Chai (NRIC No.:751212-01-5181) and Ms Cheng Siew Lee (NRIC No.:780425-01-5006) (“the Purchasers”) of No. 85, Jalan Flora Utama 3, Taman Flora Utama, 83000 Batu Pahat, Johor to vary the terms of the Sale and Purchase Agreement (hereinafter referred to as “SPA”) dated 12 July 2019 between Utusan and the Purchasers, in respect of the sale and purchase of all that piece of a freehold land held under HS(D) No. 9228, PTD 7086, Mukim Simpang Kanan, District of Batu Pahat, Johor together with a double storey shophouse erected thereon and bearing postal address at No. 19 & 19A, Jalan Mengkudu, Taman Makmur, 83000 Batu Pahat, Johor (hereinafter referred to as “the Property”) whereas:

 

(i) Recital D of the SPA stated that the individual title to the said Property is subject to the following restriction in interest and hence the Parties had entered into the SPA on the basis that State Authority’s consent is required before the Property can be transferred to the Purchasers:

 

“Tanah yang terkandung di dalam hakmilik ini apabila sahaja bertukar miliknya kepada seorang Bumiputera maka tidak boleh terkemudian daripada itu dijual, dipajak atau dipindahmilik dengan apa cara sekalipun kepada orang yang bukan Bumiputera tanpa persetujuan Pihak Berkuasa Negeri.”

 

(ii) Vide a Shareholders’ Confirmation dated 4 July 2019, the Vendor has confirmed its shareholding status and upon verification with the State Land Office, the Vendor is deemed as a non Bumiputera company, hence the said Property can be transferred to the Purchasers without having to obtain the State Authority’s consent. 

 

The salient terms of the Supplemental Agreement amongst others as follows:

 

  1. The Completion Period as defined in the Definition and Interpretation Clause in the SPA shall mean Ninety (90) days from the date of the Supplemental Agreement.
  2. The Consent to Transfer as defined in the Definition and Interpretation Clause in the SPA shall be deemed to have been deleted in its entirety. 
  3. Clause 2A of the SPA stipulating the Condition Precedent to the SPA shall be deemed to have been deleted in its entirely. 

 

Save for the above, all the provisions in the Sale and Purchase Agreement shall remain in full force and effect.

 

 

This announcement is dated 8 August 2019






Announcement Info

Company Name UTUSAN MELAYU (MALAYSIA) BERHAD
Stock Name UTUSAN
Date Announced 08 Aug 2019
Category General Announcement for PLC
Reference Number GA1-08082019-00033