We refer to your Company’s announcement dated 16 November 2023, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:- 1) To incorporate the salient terms of the SPA, including the conditions precedent aa well as the termination and related penalty clauses. 2) To provide the basis of arriving at and the justification for the Sales Consideration of RM55 million. 3) To state whether any valuation was carried out on the Property. If yes, to state the name of the independent registered valuer, date and method of valuation and quantification of the market value. To also make the valuation report available for inspection. Otherwise, to provide a negative statement and the factor(s) taken into consideration to ensure that the agreed sales consideration is fair and reasonable to ADSB/AEHB. 4) To quantify the renovation cost mentioned in Note (2) relating to ‘Date and Original Cost of Investment’ under Section 2 of the announcement. 5) To provide the detailed breakdown of the net sales proceeds of RM49.95 million to be utilised for working capital within the next 12 months of receipt. 6) To state the occupancy rate of the Property, the total rental income per month or per annum received from the tenants and to provide details on any novation/termination arrangement that has been put in place pertaining to the existing tenancies, if available. To also comment on the impact arising from the loss of rental income to AEHB upon completion of the Proposed Disposal.
7) To provide a reconciliation on the increase in the reserves from RM106.698 million as at 31 December 2022 to RM145.726 million after the Proposed Disposal. 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 |