TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MALTON BERHAD ("MALTON" OR "COMPANY") PROPOSED DISPOSAL BY REGAL PATH SDN BHD, A 51% JOINT VENTURE OF MALTON, OF THE PAVILION BUKIT JALIL MALL TO PAVILION REAL ESTATE INVESTMENT TRUST FOR A TOTAL INDICATIVE DISPOSAL CONSIDERATION OF RM2,200,000,000 ("PROPOSED DISPOSAL")
| MALTON BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | MALTON BERHAD ("MALTON" OR "COMPANY")
PROPOSED DISPOSAL BY REGAL PATH SDN BHD, A 51% JOINT VENTURE OF MALTON, OF THE PAVILION BUKIT JALIL MALL TO PAVILION REAL ESTATE INVESTMENT TRUST FOR A TOTAL INDICATIVE DISPOSAL CONSIDERATION OF RM2,200,000,000 ("PROPOSED DISPOSAL") |
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On behalf of the Board of Directors of Malton, RHB Investment Bank Berhad wishes to announce that Regal Path Sdn Bhd ("Regal Path"), a 51% joint venture of Malton, had on 22 November 2022 entered into a conditional Sale and Purchase Agreement with MTrustee Berhad, acting as the trustee of Pavilion Real Estate Investment Trust ("Pavilion REIT"), to dispose of 1 block of 5-storey retail mall with 2 basement car park levels located within Bukit Jalil City, Bukit Jalil, Kuala Lumpur, together with the related assets and rights, known as "Pavilion Bukit Jalil Mall" to Pavilion REIT, for a total indicative disposal consideration of RM2,200,000,000 to Regal Path to be fully satisfied either by fully in cash, or a combination of new units in Pavilion REIT of up to the equivalent sum of RM600,000,000 and the balance in cash.
Further details of the Proposed Disposal are set out in the attachment below.
This announcement is dated 22 November 2022. |
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Please refer attachment below.
Announcement Info
| Company Name | MALTON BERHAD |
| Stock Name | MALTON |
| Date Announced | 22 Nov 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22112022-00078 |