IWCITY

0.850

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS Proposed Land Acquisition

ISKANDAR WATERFRONT CITY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
Proposed Land Acquisition

PROPOSED ACQUISITION BY BAYOU MANAGEMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF IWCITY (“BAYOU” OR THE “PURCHASER”) OF LAND MEASURING 67.5 ACRES COMPRISING 3 ADJOINING PARCELS OF FREEHOLD LAND WITHIN MUKIM OF PULAI, DISTRICT OF JOHOR BAHRU, JOHOR, FROM BAHAGIA WANGSA SDN BHD (“BWSB” OR THE “VENDOR”), FOR A PURCHASE CONSIDERATION OF APPROXIMATELY RM156 MILLION (“PROPOSED LAND ACQUISITION”)

We refer to the announcement made by AmInvestment Bank Berhad (“AmInvestment Bank”) on behalf of the Board of Directors of IWCity (“Board”) on 22 April 2015 in relation to the Proposed Land Acquisition (“Announcement”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcement.

On behalf of the Board, AmInvestment Bank wishes to announce that the valuation report for the Subject Property prepared by Messrs KGV International Property Consultants (Johor) Sdn Bhd has been submitted to Bursa Malaysia Securities Berhad on 26 May 2015.

The said valuation report is currently available for inspection at the registered office of the Company at Suite 1301, 13th Floor City Plaza, Jalan Tebrau, 80300 Johor Bahru, Johor Darul Takzim, during normal office hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 27 May 2015.






Announcement Info

Company Name ISKANDAR WATERFRONT CITY BERHAD
Stock Name IWCITY
Date Announced 27 May 2015
Category General Announcement for PLC
Reference Number GA1-27052015-00039