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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KIM LOONG RESOURCES BERHAD ACQUISITIONS OF OIL PALM PLANTATION LANDS

KIM LOONG RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
KIM LOONG RESOURCES BERHAD
ACQUISITIONS OF OIL PALM PLANTATION LANDS

The Board of Directors of Kim Loong Resources Berhad (“KLRB”) wishes to announce that KLRB, as the Purchaser, has on 19 February, 2020 entered into the following four agreements –

 

(i)     a conditional Sale and Purchase Agreement (“SPA 1”) with Greenfingers Sdn. Bhd. [Registration No. 197901006090 (50373-U)] (“GFSB”), as the Vendor (“Vendor 1”), for the acquisition of all that 2 pieces of oil palm plantation lands fully cultivated together with all the infrastructures, buildings, fixtures, fittings and assets held under Country Lease No. 095310704 in the locality of Segaliud Lokan, District of Kinabatangan, State of Sabah measuring approximately 498 acres (201.53 hectares) (“Land 1A”) for RM16,185,000.00 and Country Lease No. 075381912 in the locality of Sungai Segaliud, District of Sandakan, State of Sabah measuring approximately 139.7 acres (56.53 hectares) (“Land 1B”) for RM4,540,250.00 free from all encumbrances and with vacant possession, both for a total cash consideration of RM20,725,250.00 (“Purchase Price 1”) (“Acquisition 1”);

 

(ii)     a conditional Sale and Purchase Agreement (“SPA 2”) with R & H Sdn. Bhd. [Registration No. 197901004898 (49143-U)] (“RHSB”), as the Vendor (“Vendor 2”), for the acquisition of all that piece of oil palm plantation land fully cultivated together with all the infrastructures, buildings, fixtures, fittings and assets held under Provisional Lease No. 096290416 in the locality of Segaliud Lokan, District of Kinabatangan, State of Sabah measuring approximately 964 acres (390 hectares) (“Land 2”) free from all encumbrances and with vacant possession for a total cash consideration of RM31,179,785.00 (“Purchase Price 2”) (“Acquisition 2”);

 

(iii)     a conditional Sale and Purchase Agreement (“SPA 3”) with Bakti Perusahaan  Sdn. Bhd. [Registration No. 198101000311 (66416-A)] (“BPSB”), as the Vendor (“Vendor 3”), for the acquisition of all that piece of oil palm plantation land fully cultivated together with all the infrastructures, fixtures, fittings and assets held under Country Lease No. 095310884 in the locality of Segaliud Lokan, District of Kinabatangan, State of Sabah measuring approximately 368.3 acres (149.05 hectares) (“Land 3”) free from all encumbrances and with vacant possession for a total cash consideration of RM11,969,750.00 (“Purchase Price 3”) (“Acquisition 3”); and

 

(iv)      a conditional Sale and Purchase Agreement (“SPA 4”) with Sri Handal Sdn. Bhd. [Registration No. 198501010807 (143257-T)] (“SHSB”), as the Vendor (“Vendor 4”), for the acquisition of all that piece of oil palm plantation land fully cultivated together with all the infrastructures, buildings, fixtures, fittings and assets held under Country Lease No. 095315245 in the locality of Segaliud Lokan, District of Kinabatangan, State of Sabah measuring approximately 892 acres (361 hectares) (“Land 4”) free from all encumbrances and with vacant possession for a total cash consideration of RM28,663,505.00 (“Purchase Price 4”) (“Acquisition 4”).

 

Further details are set out in the attached announcement.

 




Please refer attachment below.



Announcement Info

Company Name KIM LOONG RESOURCES BERHAD
Stock Name KMLOONG
Date Announced 19 Feb 2020
Category General Announcement for PLC
Reference Number GA1-10022020-00016