HONGSENG

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS HONG SENG CONSOLIDATED BERHAD ("HONG SENG" OR "THE COMPANY") AND ITS SUBSIDIARIES - TERMINATION OF SUBLEASE AGREEMENT

HONG SENG CONSOLIDATED BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
HONG SENG CONSOLIDATED BERHAD ("HONG SENG" OR "THE COMPANY") AND ITS SUBSIDIARIES - TERMINATION OF SUBLEASE AGREEMENT
We refer to the Company's announcements made on 25 June 2021 and 12 September 2023 in relation to a Sublease Agreement entered into between Hong Seng Industries Sdn Bhd (“HS Industries”), a wholly-owned subsidiary of Hong Seng and Northern Corridor Implementation Authority (“NCIA”) for the sublease of an industrial land measuring approximately 102.6 acres located within Kedah Rubber City for a period of 60 years (with an option to renew for a further period of 30 years) for a total cash consideration of RM44,692,560.00.

The Board of Directors of Hong Seng wishes to announce that HS Industries has on 20 May 2024 entered into Mutual Termination Agreement with NCIA to mutually agree to terminate the Sublease Agreement. 

The details are set out in the attachment. 


This announcement is dated 21 May 2024.



Please refer attachment below.



Announcement Info

Company Name HONG SENG CONSOLIDATED BERHAD
Stock Name HONGSENG
Date Announced 21 May 2024
Category General Announcement for PLC
Reference Number GA1-21052024-00041