LUSTER

0.070

-0.005 (-6.7%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS LUSTER INDUSTRIES BHD (LUSTER OR THE COMPANY) ACQUISITION OF PROPERTY BY GLOVMASTER SDN BHD, A 56%-OWNED SUBSIDIARY OF THE COMPANY FOR A TOTAL CONSIDERATION OF RM3,845,000.00 -ADDITIONAL INFORMATION

LUSTER INDUSTRIES BHD.

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
LUSTER INDUSTRIES BHD (LUSTER OR THE COMPANY)
ACQUISITION OF PROPERTY BY GLOVMASTER SDN BHD, A 56%-OWNED SUBSIDIARY OF THE COMPANY FOR A TOTAL CONSIDERATION OF RM3,845,000.00
-ADDITIONAL INFORMATION

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements made on  26 February 2021,  in respect of the acquisition of Property by Glovmaster Sdn Bhd, a 56%-owned subsidiary of the Company for a total consideration of RM3,845,000.00.

 

Further to the announcement made on 26 February 2021, the Board wishes to announce the additional information as below:-
1) The market value of the Property is RM3,845,000.00 in accordance to the valuation report dated 11 November 2020 issued by KGV International Property Consultants (M) Sdn Bhd.
2) The Group has not transacted any related party transaction with Yoon Mee Realty Sdn Bhd for the preceding twelve (12) months.

 

This announcement is dated 2 March 2021.

 

 

 






Announcement Info

Company Name LUSTER INDUSTRIES BHD.
Stock Name LUSTER
Date Announced 02 Mar 2021
Category General Announcement for PLC
Reference Number GA1-01032021-00107