OTHERS TERMINATION OF JOINT VENTURE AGREEMENT DATED 28 JANUARY 2011 MADE BETWEEN BAYU MELATI SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND SELGATE CORPORATION SDN. BHD. (FORMERLY KNOWN AS PKNS HOLDINGS SDN. BHD.) FOR THE DEVELOPMENT OF THREE PIECES OF FREEHOLD COMMERCIAL LANDS LOCATED AT BANDAR PETALING JAYA, DAERAH PETALING, NEGERI SELANGOR
MELATI EHSAN HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | TERMINATION OF JOINT VENTURE AGREEMENT DATED 28 JANUARY 2011 MADE BETWEEN BAYU MELATI SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND SELGATE CORPORATION SDN. BHD. (FORMERLY KNOWN AS PKNS HOLDINGS SDN. BHD.) FOR THE DEVELOPMENT OF THREE PIECES OF FREEHOLD COMMERCIAL LANDS LOCATED AT BANDAR PETALING JAYA, DAERAH PETALING, NEGERI SELANGOR |
Further to the Company’s announcement dated 19 October 2018, the Board of Directors wishes to clarify that the Deed of Mutual Termination was entered into between Bayu Melati Sdn. Bhd. and Selgate Corporation Sdn. Bhd. to terminate the joint venture in development of the Lands as stated in the Joint Venture Agreement dated 28 January 2011. The mutual termination was due to the changes in the business arrangement and delay in resolving the Lands matter. This announcement is dated 22 October 2018. |
Announcement Info
Company Name | MELATI EHSAN HOLDINGS BERHAD |
Stock Name | MELATI |
Date Announced | 22 Oct 2018 |
Category | General Announcement for PLC |
Reference Number | GA1-22102018-00088 |