TELADAN SETIA GROUP BERHAD ("TELADAN") PROPOSED ACQUISITION OF 5 PARCELS OF LEASEHOLD LAND IN MUKIM OF AYER PANAS, DISTRICT OF JASIN, STATE OF MELAKA, MEASURING AN APPROXIMATE AREA OF 136.916 HECTARES IN AGGREGATE (COLLECTIVELY REFERRED TO AS "LANDS") BY RIVERWELL RESOURCES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TELADAN FOR A TOTAL CASH CONSIDERATION OF RM117,897,754 ("PROPOSED ACQUISITION")
| TELADAN SETIA GROUP BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-07092021-00002 |
| Subject | TELADAN SETIA GROUP BERHAD ("TELADAN") PROPOSED ACQUISITION OF 5 PARCELS OF LEASEHOLD LAND IN MUKIM OF AYER PANAS, DISTRICT OF JASIN, STATE OF MELAKA, MEASURING AN APPROXIMATE AREA OF 136.916 HECTARES IN AGGREGATE (COLLECTIVELY REFERRED TO AS "LANDS") BY RIVERWELL RESOURCES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TELADAN FOR A TOTAL CASH CONSIDERATION OF RM117,897,754 ("PROPOSED ACQUISITION") |
| Description | TELADAN SETIA GROUP BERHAD ("TELADAN" OR THE "COMPANY")
PROPOSED ACQUISITION OF 5 PARCELS OF LEASEHOLD LAND IN MUKIM OF AYER PANAS, DISTRICT OF JASIN, STATE OF MELAKA, MEASURING AN APPROXIMATE AREA OF 136.916 HECTARES IN AGGREGATE (COLLECTIVELY REFERRED TO AS "LANDS") BY RIVERWELL RESOURCES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TELADAN FOR A TOTAL CASH CONSIDERATION OF RM117,897,754 ("PROPOSED ACQUISITION") |
| Query Letter Contents | We refer to the Company’s announcement dated 6 September 2021, in respect of the aforesaid matter. 1) The latest audited net book value of each parcel of land based on the latest audited financial statements of Bakat Muhibbah Sdn Bhd. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully, Cc : Market Surveillance Dept. , Securities Commission (via fax) |
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(Unless stated otherwise, definition used in this announcement shall carry the same meaning as defined in the company’s announcement dated 6 September 2021 in relation to the Proposed Acquisition)
We wish to provide the following additional information:
1. The latest audited net book value (“NBV”) of each parcel of land based on the latest audited financial statements of Bakat Muhibbah Sdn Bhd.
The Company is unable to provide the latest audited NBV of each parcel of the Lands as it is not privy to such information.
2. The source(s) of funds to finance the proposed development of the Lands, and the breakdown thereof.
The Company has not determined the source(s) of funds to finance the proposed development of Lands and the breakdown thereof, as it is too preliminary to ascertain the exact total gross development value, development cost, the expected commencement and completion dates of the development and the expected profits to be derived from the development of the Lands.
3. In relation to the existing tenancy agreement, to clarify to which parcel of land does it relate to. To also state the details of the rental and the rental income per month or per annum.
(a) The Tenancy Agreement is in respect of the land held under title number PN 26772, Lot 4672.
(b) The tenancy for 2 years ending 30 November 2021 and is subject to a monthly rental of RM5,700.
4. The estimated time frame for submission of the relevant applications to the State Authority of Melaka and the Economic Planning Unit of the Prime Minister’s Department.
(a) In respect of the state authority consent (“State Consent”), the time frame for the submission of the application shall be within 30 days from the date of the Sale and Purchase Agreement (as per Clause 4B(a)).
(b) In respect of the approval from the Economic Planning Unit (“EPU Approval”), the time frame for the submission of the application shall be within 4 days from the date of receipt of the State Consent (if it is a condition imposed by the state authority that the EPU Approval is required) (as per Clause 4C(a)).
This announcement is dated 8 September 2021.
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Announcement Info
| Company Name | TELADAN SETIA GROUP BERHAD |
| Stock Name | TELADAN |
| Date Announced | 08 Sep 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-08092021-00070 |