TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS AGESON BERHAD ("AGESON" OR "THE COMPANY") MEMORANDUM OF UNDERSTANDING BETWEEN AGESON DEVELOPMENT SDN BHD (FORMERLY KNOWN AS PRINSIPTEK PROPERTIES SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND BILLION APEX SDN BHD ("BASB"), IN RELATION TO APPOINTMENT OF BASB AS THE MAIN CONTRACTOR FOR A PROPOSED MIXED DEVELOPMENT PROJECT
AGESON BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | AGESON BERHAD ("AGESON" OR "THE COMPANY") MEMORANDUM OF UNDERSTANDING BETWEEN AGESON DEVELOPMENT SDN BHD (FORMERLY KNOWN AS PRINSIPTEK PROPERTIES SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND BILLION APEX SDN BHD ("BASB"), IN RELATION TO APPOINTMENT OF BASB AS THE MAIN CONTRACTOR FOR A PROPOSED MIXED DEVELOPMENT PROJECT |
The Board of Directors of Ageson (“Board”) wishes to announce that Ageson Development Sdn Bhd (“ADSB”), a wholly-owned subsidiary of the Company, had on 21 January 2021, entered into a memorandum of understanding (“MOU”) with BASB, whereby ADSB is desirous to appoint BASB as the main contractor to undertake and complete main building and infrastructure works (“Main Construction Works”) for a proposed mixed development project on a parcel of development land measuring 7,395 square metres held under title of H.S.(D) 18991, PT No. 129, Seksyen 1, Bandar Batu Ferringgi, Daerah Timor Laut, Negeri Pulau Pinang (“Land”), with a contract value of RM120.0 million.
The proposed mixed development project is a development of a building block comprising 79 units of service apartments, 138 rooms hotel and 1-storey basement car park ("Proposed Development”).
ADSB and BASB are collectively referred to as the “Parties”.
The details of the announcement is attached.
This announcement is dated 21 January 2021. |
Please refer attachment below.
Announcement Info
Company Name | AGESON BERHAD |
Stock Name | AGES |
Date Announced | 21 Jan 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-21012021-00041 |