NEXGRAM

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Joint venture agreement (JVA) between Intra Binaraya Sdn Bhd (IBSB), a wholly-owned subsidiary of Nexgram Holdings Berhad with Faldze Holdings Sdn Bhd (FHSB)

NEXGRAM HOLDINGS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-18082020-00005
Subject Joint venture agreement (JVA) between Intra Binaraya Sdn Bhd (IBSB), a wholly-owned subsidiary of Nexgram Holdings Berhad with Faldze Holdings Sdn Bhd (FHSB)
Description
NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR "COMPANY")

JOINT VENTURE AGREEMENT ("JVA") BETWEEN INTRA BINARAYA SDN BHD ("IBSB"), A WHOLLY OWNED SUBSIDIARY OF NEXGRAM WITH FALDZE HOLDINGS SDN BHD ("FHSB") ("PARTIES")
Query Letter Contents

We refer to your Company’s announcement dated 17 August 2020, in respect of the aforesaid matter.

 

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

  1. The amount of funding required to be provided by IBSB under the JVA,  sources of funding, and the breakdown.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

 

Yours faithfully

LISTING

REGULATION

 

Cc : Market Surveillance Dept., Securities Commission (via fax)

The Company’s announcement dated 17 August 2020 (“Announcement”) and the query letter from Bursa Malaysia Securities Berhad dated 19 August 2020 (Ref : IQL-18082020-00005) in relation to the Joint Venture Agreement (“JVA”) refer.  Unless otherwise stated, the terms used in this announcement shall have the same meaning as defined in the Announcement.

 

  1. The amount of funding required to be provided by IBSB under the JVA, sources of funding, and the breakdown.
  • The amount of funding required to be provided by IBSB under the JVA is amounted to RM5 million which will be funded by internally generated funds and borrowings. The breakdown of the funding will only be made available in due course.  Any development will be updated accordingly.

 

This announcement is dated 28 August 2020.





Announcement Info

Company Name NEXGRAM HOLDINGS BERHAD
Stock Name NEXGRAM
Date Announced 28 Aug 2020
Category General Announcement for PLC
Reference Number GA1-28082020-00016