MRCB

0.660

-0.005 (-0.8%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR "COMPANY") JOINT VENTURE BETWEEN RUKUN JUANG SDN BHD ("RJSB"), A WHOLLY-OWNED SUBSIDIARY OF MRCB LAND SDN BHD ("MRCB LAND"), WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MRCB, AND TANJUNG WIBAWA SDN BHD ("TWSB"), A WHOLLY-OWNED SUBSIDIARY OF THE EMPLOYEES PROVIDENT FUND BOARD ("EPF"), FOR THE PURPOSE OF DEVELOPING THREE (3) PARCELS OF LEASEHOLD LAND LOCATED IN BUKIT JALIL, KUALA LUMPUR ("JOINT VENTURE")

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR "COMPANY")

JOINT VENTURE BETWEEN RUKUN JUANG SDN BHD ("RJSB"), A WHOLLY-OWNED SUBSIDIARY OF MRCB LAND SDN BHD ("MRCB LAND"), WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MRCB, AND TANJUNG WIBAWA SDN BHD ("TWSB"), A WHOLLY-OWNED SUBSIDIARY OF THE EMPLOYEES PROVIDENT FUND BOARD ("EPF"), FOR THE PURPOSE OF DEVELOPING THREE (3) PARCELS OF LEASEHOLD LAND LOCATED IN BUKIT JALIL, KUALA LUMPUR ("JOINT VENTURE")

We refer to the earlier announcements in relation to the Joint Venture. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

 

On behalf of the Board, RHB Investment Bank wishes to announce that:

 

(i) RJSB and TWSB had subscribed for the Subscription Shares under the Second Tranche Subscription on 4 December 2020 (being 15 business days following the receipt of the development order in respect of the Lands on 13 November 2020); and

 

(ii) the Second Tranche Lands Consideration has simultaneously been settled with RJSB in the following manner:

 

    (a) the subscription price of the Second Tranche Subscription payable by TWSB to BJSP has been paid by TWSB directly to RJSB; and

 

    (b) the remaining Second Tranche Lands Consideration has been capitalised against the subscription price of the Second Tranche Subscription payable by RJSB to BJSP.

 

In view of the above, the Second Tranche Subscription and the Second Tranche Lands Consideration have been completed on 4 December 2020. This marks the completion of the subscriptions by RJSB, TWSB and the Management Contractor in the share capital of BJSP, and the full settlement of the Lands Consideration, under the Joint Venture.

 

The mode of settlement for the Second Tranche Subscription and the details of the resultant shareholdings of RJSB, TWSB and the Management Contractor in BJSP upon completion of the Second Tranche Subscription are set out in the attachment below.

 

 

This announcement is dated 4 December 2020.




Please refer attachment below.



Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 04 Dec 2020
Category General Announcement for PLC
Reference Number GA1-04122020-00047