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OTHERS AGESON BERHAD ("AGESON" OR "THE COMPANY") SALE AND DEVELOPMENT AGREEMENT BETWEEN AGESON HOLDINGS SDN BHD ("AHSB"), AN INDIRECT 75%-OWNED SUBSIDIARY OF THE COMPANY AND ZHEJIANG GUORONG DIGITAL ECONOMY GROUP LTD., ("ZGDEG")

AGESON BERHAD

Type Announcement
Subject OTHERS
Description
AGESON BERHAD ("AGESON" OR "THE COMPANY")

SALE AND DEVELOPMENT AGREEMENT BETWEEN AGESON HOLDINGS SDN BHD ("AHSB"), AN INDIRECT 75%-OWNED SUBSIDIARY OF THE COMPANY AND ZHEJIANG GUORONG DIGITAL ECONOMY GROUP LTD., ("ZGDEG")

The Board of Directors of the Company (“Board”) wishes to announce that AHSB, an indirect 75%-owned subsidiary of the Company had on 21 October 2021, entered into a sale and development agreement (“Agreement”) with ZGDEG for the purchase of a piece of land measuring approximately 168 acres (“Industrial Land”) which is part of a land measuring approximately 475 acres located at Wilayah Sungai Kelian Baru, Mukim Batang Padang, Daerah Batang Padang, Perak (“Development Land”) by ZGDEG from AHSB and/or Menteri Besar Incorporated (Perak) (“MBI Perak”) at a purchase consideration of approximately RM278.78 million (“Purchase Consideration”).

 

Pursuant to the Agreement, AHSB shall execute and complete the construction works for infrastructures which includes, road and its ancillary works, car parks, drains, sewerage systems, gas and water reticulation system, electrical cables, street lighting, water pipes, telephone cables, sewer lines and all the ancillary works ("Infrastructures”) and industrial lots (without building) on the Industrial Land (“Industrial Lots”) in accordance with the specification and requirements of ZGDEG ("Construction Works”). 

 

(The above shall be referred to as the “Sale and Development”).

 

AHSB and ZGDEG shall collectively be referred to as the “Parties”.

 

Further details of the Agreement are set out in the ensuing sections of this announcement.

 

This announcement is dated 21 October 2021.

 

Please refer attachment below.
 

 




Please refer attachment below.



Announcement Info

Company Name AGESON BERHAD
Stock Name AGES
Date Announced 21 Oct 2021
Category General Announcement for PLC
Reference Number GA1-21102021-00014