TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS CHIN HIN GROUP PROPERTY BERHAD ("CHGP" OR THE "COMPANY") (I) PROPOSED ACQUISITIONS OF 3 FREEHOLD LANDS AT MUKIM SERENDAH, SELANGOR FROM FRAZEL WORLD SDN BHD FOR TOTAL CASH CONSIDERATION OF APPROXIMATELY RM45.11 MILLION, SUBJECT TO ADJUSTMENT; AND (II) PROPOSED ACQUISITIONS OF 2 FREEHOLD LANDS AT MUKIM SERENDAH, SELANGOR FROM FRAZEL ICON SDN BHD FOR TOTAL CASH CONSIDERATION OF APPROXIMATELY RM9.41 MILLION, SUBJECT TO ADJUSTMENT (COLLECTIVELY REFERRED AS THE "PROPOSED ACQUISTIONS")
| CHIN HIN GROUP PROPERTY BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | CHIN HIN GROUP PROPERTY BERHAD ("CHGP" OR THE "COMPANY")
(I) PROPOSED ACQUISITIONS OF 3 FREEHOLD LANDS AT MUKIM SERENDAH, SELANGOR FROM FRAZEL WORLD SDN BHD FOR TOTAL CASH CONSIDERATION OF APPROXIMATELY RM45.11 MILLION, SUBJECT TO ADJUSTMENT; AND
(II) PROPOSED ACQUISITIONS OF 2 FREEHOLD LANDS AT MUKIM SERENDAH, SELANGOR FROM FRAZEL ICON SDN BHD FOR TOTAL CASH CONSIDERATION OF APPROXIMATELY RM9.41 MILLION, SUBJECT TO ADJUSTMENT
(COLLECTIVELY REFERRED AS THE "PROPOSED ACQUISTIONS") |
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Unless otherwise defined, the definitions set out in the announcement dated 30 October 2020 shall apply herein.
On behalf of the Board of Directors of CHGP, M&A Securities Sdn Bhd wishes to announce that Stellar Trinity Sdn Bhd (“Stellar”), a wholly-owned subsidiary of BKG Development Sdn Bhd, which in turn is a wholly-owned subsidiary of CHGP, has on 27 January 2021 entered into the following:
(I) 3 conditional sale and purchase agreements with Frazel World Sdn Bhd (“FWSB”) (“FW SPAs”) to acquire 3 parcels of freehold lands identified as Lot 648, 650 and 1301, Mukim Serendah, District of Hulu Selangor or Ulu Selangor, State of Selangor (“FW Land”) for a cash consideration of RM45,114,934.03 (“FW Consideration”) (“Proposed Acquisition of FW Land”); and
(II) 2 conditional sale and purchase agreements with Frazel Icon Sdn Bhd (“FISB”) (“FI SPAs”) to acquire 2 parcels of freehold lands identified as Lot 651 and 652, Mukim Serendah, District of Hulu Selangor, State of Selangor (“FI Land”) for a cash consideration of RM9,407,410.99 (“FI Consideration”) (“Proposed Acquisition of FI Land”).
Concurrent with the execution of the sale and purchase agreements for the Proposed Acquisitions, CHGP terminated the offer letters to acquire FWSB and FISB.
Kindly refer to the attachment for further details on the Proposals.
This announcement is dated 27 January 2021. |
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Please refer attachment below.
Announcement Info
| Company Name | CHIN HIN GROUP PROPERTY BERHAD |
| Stock Name | CHGP |
| Date Announced | 27 Jan 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27012021-00034 |