MRCB

0.660

-0.005 (-0.8%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS 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
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 and the announcement dated 2 April 2021 in relation to the Joint Venture. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

 

The Board wishes to announce that MRCB and RJSB had on 9 July 2021 accepted and agreed to the terms of the letter from TWSB dated 18 June 2021 Extension Letter whereby MRCB, RJSB and TWSB had mutually agreed for a further extension of six (6) weeks period commencing from 30 May 2021 for RJSB and/or BJSP to launch the development with at least RM600,000,000 of GDV. Accordingly, the last date for RJSB to cause BJSP or for BJSP to launch the development with at least RM600,000,000 of GDV is 11 July 2021.

 

Due to current market conditions, the parties are in discussions to further extend the date to launch the development.

 

Save as varied above, all other terms and conditions contained in the SSA shall remain, and continue to be, in full force and effect and shall not be affected in any way thereby.

 

The Extension Letter will be made available for inspection at the registered office of the Company at Level 33A, Menara NU 2, No. 203, Jalan Tun Sambanthan, Kuala Lumpur Sentral, 50470 Kuala

Lumpur, Malaysia during normal business hours (except public holidays) for a period of three (3) months from the date of this Announcement.

 

This announcement is dated 9 July 2021.






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 09 Jul 2021
Category General Announcement for PLC
Reference Number GA1-09072021-00086