Proposed acquisition of a property ("Property") by Integrated Design & Build Sdn. Bhd., a wholly-owned subsidiary of the company from MKN Embassy Development Sdn. Bhd ("MKNE")("Proposed Acquisition")
| IDB TECHNOLOGIES BERHAD |
| Type | Reply to Query | ||||||
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-13032024-00001 | ||||||
| Subject | Proposed acquisition of a property ("Property") by Integrated Design & Build Sdn. Bhd., a wholly-owned subsidiary of the company from MKN Embassy Development Sdn. Bhd ("MKNE")("Proposed Acquisition") | ||||||
| Description | IDB TECHNOLOGIES BERHAD ("IDB" OR "THE COMPANY")
- PROPOSED ACQUISITION OF A PROPERTY BY INTEGRATED DESIGN & BUILD SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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| Query Letter Contents | We refer to your Company’s announcement dated 11 March 2024, in respect of the aforesaid matter.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully Listing Regulation
copy : Market Surveillance Dept., Securities Commission |
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(The definitions used in this announcement shall have the same meanings as that used in the announcement made on 11 March 2024 (“Announcement”) unless stated otherwise.) We refer to the Announcement and the letter from Bursa Malaysia Securities Berhad dated 13 March 2024 with reference number IQL-13032024-00001 requesting for the following additional information on the Proposed Acquisition:- 1. Whether any valuation was carried out on the Property; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value. There was no valuation carried out on the Proposed Acquisition. 2. Number of storey and age of the Property. The Property was completed in 2017, making it a 7 years old 3-storey shop office. Additionally, it is located at level 3. 3. The net book value of the Property based on MNKE’s latest financial statements The net book value of the Property is RM1,110,000.00. This announcement is dated 14 March 2024. |
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Announcement Info
| Company Name | IDB TECHNOLOGIES BERHAD |
| Stock Name | IDBTECH |
| Date Announced | 14 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14032024-00004 |