KAB

0.395

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KEJURUTERAAN ASASTERA BERHAD [199701005009 (420505-H)] ("KAB" OR "THE COMPANY") ADDITIONAL INFORMATION IN RELATION TO THE: - (A) SALES AND PURCHASE AGREEMENTS ENTERED BETWEEN ELIQ MANAGEMENT SDN. BHD., A WHOLLY-OWNED SUBSIDIARY AND EKOVEST CAPITAL SDN. BHD. ("EKOVEST") IN RELATION TO THE PROPOSED ACQUISITION OF TWO (2) PARCELS OF BUILDING LOTS; (B) SALES AND PURCHASE AGREEMENTS ENTERED BETWEEN KAB AND EKOVEST IN RELATION TO THE PROPOSED ACQUISITION OF FOUR (4) PARCELS OF BUILDING LOTS.

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
KEJURUTERAAN ASASTERA BERHAD [199701005009 (420505-H)] ("KAB" OR "THE COMPANY")

ADDITIONAL INFORMATION IN RELATION TO THE: -
(A)	SALES AND PURCHASE AGREEMENTS ENTERED BETWEEN ELIQ MANAGEMENT SDN. BHD., A WHOLLY-OWNED SUBSIDIARY  AND EKOVEST CAPITAL SDN. BHD. ("EKOVEST") IN RELATION TO THE PROPOSED ACQUISITION OF TWO (2) PARCELS OF BUILDING LOTS; 

(B)	SALES AND PURCHASE AGREEMENTS ENTERED BETWEEN KAB AND EKOVEST IN RELATION TO THE PROPOSED ACQUISITION OF FOUR (4) PARCELS OF BUILDING LOTS.
(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement made on 1 April 2022.)

The Board of Directors of KAB wishes to further clarified on the item 7 of the announcement made on 1 April 2022 under "Rationale and Benefits of the Proposed Acquisiton" as follows:-

7. Rationale and Benefit of the Proposed Acquisition

In order to recover the partial amount owing by the Vendor (“outstanding debt”) and to capitalise on buyer market for properties, KAB has entered the said Proposed Acquisitions in exchange to the outstanding debt. These Proposed Acquisitions will also release the retention sum withheld by Vendor, which would otherwise be held for longer period. The Board is of the view that the Proposed Acquisitions will contribute positively to the future cash flows of the Company as a result of the potential growth in capital value of the Property.

This announcement is dated 4 April 2022.





Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 04 Apr 2022
Category General Announcement for PLC
Reference Number GA1-04042022-00065