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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

Amended Announcements
Please refer to the earlier announcement reference number: GA1-21012021-00041

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 GA1-21012021-00131