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Transactions (Chapter 10 Of Listing Requirements):Related Party Transactions

BackApr 26, 2013
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description MALAYSIA BUILDING SOCIETY BERHAD (“MBSB” OR “COMPANY”)

PROPOSED ACQUISITION BY MBSB TOWER SDN BHD (FORMERLY KNOWN AS AMBANG HARTAMAS SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF MBSB, OF A PROPOSED OFFICE BUILDING TO BE DEVELOPED FOR A TOTAL CASH CONSIDERATION OF RM239,236,750 (“PROPOSED ACQUISITION”)

We refer to the announcements made by RHB Investment Bank Berhad (“RHB Investment Bank”)on behalf of the Board of Directors of MBSB (“Board”) on 12 December 2012 (“Announcement”) and 12 March 2013 in relation to the Proposed Acquisition. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcement.

On behalf of the Board, RHB Investment Bank wishes to announce that MBSB Tower Sdn Bhd (formerly known as Ambang Hartamas Sdn Bhd) (“MBSB Tower”)had vide its letter to P.J Sentral dated 19 April 2013 agreed with the following:-

(i) the Building Plans to be submitted to the appropriate authorities for approval;

(ii) the design and full specifications of the Building; and

(iii) the technical parameters including, civil, structural, mechanical and architectural requirements of the Building,

which was subsequently acknowledged by P.J Sentral vide their letters dated 24 April 2013 and 25 April 2013.

Accordingly, the conditions precedent of the SPA as set out in Section 2.7.2(a)(i) and Sections 2.7.2(a)(ii)(aa)-(bb) of the Announcement have been fulfilled in accordance with the terms of SPA on 25 April 2013.

Consequently, the Building Plans are targeted to be submitted to the appropriate authorities by the 2nd quarter of 2013.

The letters are available for inspection at the registered office of MBSB at 11th Floor, Wisma MBSB, 48 Jalan Dungun, Damansara Heights, 50490 Kuala Lumpur during normal business 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 26 April 2013.

 


Announcement Info

Company Name MALAYSIA BUILDING SOCIETY BERHAD 
Stock Name MBSB
Date Announced 26 Apr 2013
Category General Announcement
Reference No MI-130426-50472

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