MELATI

0.520

(%)

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