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MENTIGA

0.440

-0.04 (-8.3%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED SURRENDER OF 2 PARCELS OF LAND OWNED BY MENTIGA CORPORATION BERHAD IDENTIFIED AS PN 2490 LOT 1449 AND HS(D) 3364 PT 2204 AT MUKIM LANGGAR, DISTRICT OF PEKAN, PAHANG ("PEKAN LAND") TO THE STATE GOVERNMENT OF PAHANG, IN ACCORDANCE WITH SEC. 197 OF THE NATIONAL LAND CODE, IN CONSIDERATION OF WHICH THE STATE GOVERNMENT OF PAHANG WILL COMPENSATE MENTIGA WITH 4 PARCELS OF LAND WITH AN AGGREGATE LAND SIZE OF 13,112 ACRES VALUED AT NOT LESS THAN RM20MILLION (PROPOSED SURRENDER OF PEKAN LAND)

MENTIGA CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
PROPOSED SURRENDER OF 2 PARCELS OF LAND OWNED BY MENTIGA CORPORATION BERHAD IDENTIFIED AS PN 2490 LOT 1449 AND HS(D) 3364 PT 2204 AT MUKIM LANGGAR, DISTRICT OF PEKAN, PAHANG ("PEKAN LAND") TO THE STATE GOVERNMENT OF PAHANG, IN ACCORDANCE WITH SEC. 197 OF THE NATIONAL LAND CODE, IN CONSIDERATION OF WHICH THE STATE GOVERNMENT OF PAHANG WILL COMPENSATE MENTIGA WITH 4 PARCELS OF LAND WITH AN AGGREGATE LAND SIZE OF 13,112 ACRES VALUED AT NOT LESS THAN RM20MILLION (PROPOSED SURRENDER OF PEKAN LAND)

The terms used herein shall, unless the context otherwise stated, bear the same meaning as those defined in the announcements dated 26 August 2011, 30 September 2011, 4 October 2011, 5 October 2011, 26 June 2012, 31 December 2012, 28 June 2013, 27 December 2013, 31 December 2014, 30 December 2015, 30 June 2016, 30 December 2016 and 28 December 2017 in relation to the Proposed Surrender of Pekan Land.

The Board of Directors of Mentiga Corporation Berhad (“Mentiga” or “the Company”) wishes to announce that as at the date of this announcement, some of the requisite approvals for the alienation of the Consideration Land in favour of Mentiga by the Director of Land and Minerals of Pahang are still pending. Following thereto, the Proposed Surrender of Pekan Land is expected to be completed by fourth quarter of calendar year 2019 as opposed to the fourth quarter of calendar year 2018 which was announced on 28 December 2017.

The current status of the Consideration Land is as follow:

 

1. Ulu Lepar Land I, Ulu Lepar Land II and Replacement Land

The Land Administrator had, on 29 October 2013 and 9 September 2013, issued the land titles for the Ulu Lepar Land I and Ulu Lepar Land II of 4,165.00 acres and 1,604.71 acres respectively in favour of Mentiga.

 

For the Replacement Land, the Company is still pending the approvals from the Land Administrator for the replacement and, alienation of the Replacement Land to Mentiga and the issuance of the land title in favour of Mentiga.

 

2. Penor Land

The Land Administrator had, on 21 May 2013, issued the land title for the Penor Land of 2,631.00 acres in favour of Mentiga.

 

3. Hulu Cheka Land

The Land Administrator had, on 10 August 2017, issued the land title for the Hulu Cheka Land of 3,881.00 acres in favour of Mentiga.

 

The Company, upon obtaining the abovesaid letter(s) or any further information thereto in relation to the completion of the Proposed Surrender of Pekan Land will endeavor to make the relevant announcement(s).

 

This announcement is dated 3 January 2019.






Announcement Info

Company Name MENTIGA CORPORATION BERHAD
Stock Name MENTIGA
Date Announced 03 Jan 2019
Category General Announcement for PLC
Reference Number GA1-03012019-00033