BTECH

0.250

(%)

The proposed acquisition by Brite-Tech Corporation Sdn. Berhad, a wholly owned subsidiary of Brite-Tech Berhad of one piece of land in Mukim Kapar, Daerah Klang, Selangor Darul Ehsan ("the Lot") for a total purchase price of Ringgit Malaysia sixteen million five hundred thirty six thousand eight hundred and eighty eight ("Proposed Acquisition")

BRITE-TECH BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-07092022-00004
Subject The proposed acquisition by Brite-Tech Corporation Sdn. Berhad, a wholly owned subsidiary of Brite-Tech Berhad of one piece of land in Mukim Kapar, Daerah Klang, Selangor Darul Ehsan ("the Lot") for a total purchase price of Ringgit Malaysia sixteen million five hundred thirty six thousand eight hundred and eighty eight ("Proposed Acquisition")
Description 
PROPOSED ACQUISITION OF ONE PIECE OF LAND BY BRITE-TECH CORPORATION SDN. BERHAD, A WHOLLY OWNED SUBSIDIARY OF BRITE-TECH BERHAD (PROPOSED ACQUISITION)
Query Letter Contents

We refer to your Company’s announcement dated 6 September 2022, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1.       The terms of the tenure of the Lot; if leasehold, the expiry date of the lease.

2.       The proposed use of the Lot.

3.       Where the Lot  is in the process of being developed or is intended to be developed, the following additional                    details:

          (a) the details of development potential, i.e. name of the project, type of development - residential, industrial or                   commercial, number of units in respect of each type of development; (b) the total development cost;

          (c) the expected commencement and completion date(s) of development;

          (d) the gross development value;

          (e) the stage or percentage of completion;

          (f) the sources of funds to finance the development cost; and

          (g) whether relevant approvals for the development have been obtained and date(s) obtained.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,

LISTING

REGULATION

 

Cc : Market Surveillance Dept. , Securities Commission (via fax)

(For consistency, the abbreviation used in this announcement shall have the same meaning defined in the announcement dated 6 September 2022, where applicable, unless stated otherwise or defined herein)

We refer to the Company’s announcement dated 6 September 2022 on the subject matter.

The Company wishes to announce the following additional information in relation to the Proposed Acquisition:

1.The terms and tenure of the Lot; if leasehold, the expiry date of the lease

Freehold

2.Proposed use of the Lot

Proposed construction of factory for own use and/or for rental income

3.Where the Lot is in the process of being developed or is intended to be developed, the following additional details:

 

(a)the details of development potential, i.e. name of the project, type of development – residential, industrial or commercial, number of units in respect of each type of development;

Proposed construction of one unit of single storey factory and warehouse, and three storey office building

(b)the total development cost;

Approximately RM18.4 million

(c)the expected commencement and completion date(s) of development;

Expected to commence on first quarter of 2025 and completion by end of 2026

(d)the gross development value;

Not applicable

(e)the stage or percentage of completion;

The proposed construction has not commenced

(f)the sources of funds to finance the development cost; and

The proposed construction will be funded by a combination of bank borrowings and internally generated funds. At this juncture, the Company is unable to determine the exact breakdown between the bank borrowings and internally generated funds.

(g)whether relevant approvals for the development have been obtained and date(s) obtained.

The relevant approvals for the construction of the factory have not been obtained because the construction of the factory has not commenced.

 

 

This announcement is dated 14 September 2022.


Announcement Info

Company Name BRITE-TECH BERHAD
Stock Name BTECH
Date Announced 14 Sep 2022
Category General Announcement for PLC
Reference Number GA1-14092022-00062


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