TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KINSTEEL BHD (IN LIQUIDATION) ("KINSTEEL" OR "THE COMPANY") PROPOSED DISPOSAL OF ASSET BY THE COMPANY FOR A TOTAL CASH CONSIDERATION OF RM5,500,000 ("PROPOSED DISPOSAL")
| KINSTEEL BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | KINSTEEL BHD (IN LIQUIDATION) ("KINSTEEL" OR "THE COMPANY")
PROPOSED DISPOSAL OF ASSET BY THE COMPANY FOR A TOTAL CASH CONSIDERATION OF RM5,500,000 ("PROPOSED DISPOSAL") |
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The Company (“Vendor”) wishes to announce that as part of the liquidation of the Company, the Company had on 7 October 2019 conducted an expression of interest exercise to sell its assets. Accordingly, the Company had on 30 July 2020 entered into Sale and Purchase Agreement (“SPA”) with MMP Resources Sdn Bhd (“Purchaser”/ “MMP”), for the proposed disposal of a plant and machinery located on Gebeng Jaya Sdn Bhd’s Land (“Plant & Machinery”) for RM5,500,000.
Please refer to the attachment for further details.
This announcement is dated 30 July 2020. |
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Please refer attachment below.
Announcement Info
| Company Name | KINSTEEL BHD |
| Stock Name | KINSTEL |
| Date Announced | 30 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27072020-00015 |