PROPOSED DISPOSAL OF FREEHOLD LAND HELD UNDER GERAN 149604, LOT 3653, MUKIM 06, DAERAH SEBERANG PERAI TENGAH NEGERI PULAU PINANG APPROXIMATELY 377 SQUARE METRE TOGETHER WITH A UNIT OF TERRACE FACTORY ERECTED THEREON BEARING POSTAL ADDRESS AT NO.1, LORONG NAGASARI 23, TAMAN NAGASARI, 13600 SEBERANG PERAI, PULAU PINANG ("PROPERTY") BY SIN CHEE HENG (BUTTERWORTH) SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF SCH GROUP BERHAD ("PROPOSED DISPOSAL")
| SCH GROUP BERHAD |
| Type | Reply to Query | ||||||||||||||||||
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-21092020-00001 | ||||||||||||||||||
| Subject | PROPOSED DISPOSAL OF FREEHOLD LAND HELD UNDER GERAN 149604, LOT 3653, MUKIM 06, DAERAH SEBERANG PERAI TENGAH NEGERI PULAU PINANG APPROXIMATELY 377 SQUARE METRE TOGETHER WITH A UNIT OF TERRACE FACTORY ERECTED THEREON BEARING POSTAL ADDRESS AT NO.1, LORONG NAGASARI 23, TAMAN NAGASARI, 13600 SEBERANG PERAI, PULAU PINANG ("PROPERTY") BY SIN CHEE HENG (BUTTERWORTH) SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF SCH GROUP BERHAD ("PROPOSED DISPOSAL") | ||||||||||||||||||
| Description | SCH GROUP BERHAD ("SCH" or "The Company")
ADDITIONAL INFORMATION REQUIRED FOR PROPOSED DISPOSAL OF FREEHOLD LAND HELD UNDER GERAN 149604, LOT 3653, MUKIM 06, DAERAH SEBERANG PERAI TENGAH NEGERI PULAU PINANG APPROXIMATELY 377 SQUARE METRE TOGETHER WITH A UNIT OF TERRACE FACTORY ERECTED THEREON BEARING POSTAL ADDRESS AT NO.1, LORONG NAGASARI 23, TAMAN NAGASARI, 13600 SEBERANG PERAI, PULAU PINANG BY SIN CHEE HENG (BUTTERWORTH) SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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| Query Letter Contents | We refer to your Company’s announcement dated 18 September 2020, in respect of the aforesaid matter. 1) In relation to the Property, information as required under Part C of Appendix 10A of the ACE Market Listing Requirements. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully, Cc : Market Surveillance Dept. , Securities Commission (via fax) |
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(The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the Company’s announcement made on 18 September 2020 in relation to the Proposed Disposal) Reference is made to the Company’s announcement made on 18 September 2020. The Board of Directors of SCH wishes to provide the following additional information: 1. Details of Property The Property comprises a unit of Terrace Factory on a piece of freehold land held under Geran 149604, Lot 3653, Mukim 06, Daerah Seberang Perai Tengah, Negeri Pulau Pinang approximately 377 square metre.
The Proposed Disposal is not expected to have any material impact on the operation as SCH has identified a new warehouse to be rent from a third party. 2. The particulars of any liabilities, including contingent liabilities, in relation to the Proposed Disposal which remain with SCH Group Berhad and/ or Sin Chee Heng (Butterworth) Sdn Bhd As part of the ordinary clauses in the sale and purchase agreement:- a) SCH (Vendor) will pay real property gain tax, quit rent and other outgoing arising out of the said Property upon the completion of the transaction. b) In the event that there is a breach of the declaration or representation by SCH Group Berhad and/or Sin Chee Heng (Butterworth) Sdn Bhd, or the Purchaser, the default party shall rectify the said breach within fourteen (14) days from the date of notification or keep the other party fully indemnified against all losses arisen. 3. The particulars of any guarantees given by SCH Group Berhad and/ or Sin Chee Heng (Butterworth) Sdn Bhd No guarantees shall be assumed or given by SCH Group Berhad and/or Sin Chee Heng (Butterworth) Sdn Bhd. This announcement is dated 22 September 2020. |
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Announcement Info
| Company Name | SCH GROUP BERHAD |
| Stock Name | SCH |
| Date Announced | 22 Sep 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22092020-00021 |