News

The Board of Directors of KAB wishes to announce on the following agreements:

(a) Eliq Management Sdn. Bhd. [Registration No. 202001026526 (1382846-P)], a wholly-owned subsidiary of the Company (“EMSB” or “the Purchaser”) had on 5 May 2021 entered into two (2) Sale and Purchase Agreement (“SPA”) with Ekovest Capital Sdn. Bhd. [Registration No. 199901011171 (486071-X)] (“Ekovest” or “the Vendor”) for the purpose of acquired two (2) parcels of building lots nos. J-29-06 and J-29-16 held under Geran 78870 Lot 480726, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan for a total purchase consideration of RM1,316,990/- (“Purchase Consideration”) (“Proposed Acquisition 1”). There was no announcement made on the Proposed Acquisition 1 as the percentage ratio involves represented only 1.64% of the Group’s total net asset of RM80.07 million, which was less than the 5% requirement under Chapter 10.05(1) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”).

(b) The Company had on 26 October 2021 entered into a SPA with Ekovest for the purpose of acquired one (1) parcel of building lot no. J-20-09 held under Geran 78870 Lot 480726, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan for a total purchase consideration of RM629,463/- (“Purchase Consideration”) (“Proposed Acquisition 2”). There was no announcement made on the Proposed Acquisition 2 as the percentage ratio involves represented only 0.79% of the Group’s total net asset of RM80.07 million, which was less than the 5% requirement under Chapter 10.05(1) of the MMLR of Bursa Securities and no announcement required on the Proposed Acquisition 1 and 2 pursuant to Chapter 10.12 of the MMLR of Bursa Securities as the aggregate percentage ratio involved only 2.43%.

(c) The Company had on 17 January 2022 entered into a SPA with Ekovest for the purpose of acquired one (1) parcel of building lot no. E-31-01 held under Geran 78870 Lot 480726, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan for a total purchase consideration of RM1,075,315/- (“Purchase Consideration”) (“Proposed Acquisition 3”). There was no announcement made on the Proposed Acquisition 3 as the percentage ratio involves represented only 1.34% of the Group’s total net asset of RM80.07 million, which was less than the 5% requirement under Chapter 10.05(1) of the MMLR of Bursa Securities and no announcement required on the Proposed Acquisition 1, 2 and 3 pursuant to Chapter 10.12 of the MMLR of Bursa Securities as the aggregate percentage ratio involved only 3.77%.

(d) The Company entered into two (2) SPA with Ekovest for the purpose of acquired two (2) parcels of building lots nos. H-20-10 and H-30-05 held under Geran 78870 Lot 480726, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan for a total purchase consideration of RM1,669,893/- (“Purchase Consideration”) (“Proposed Acquisition 4”). With the Proposed Acquisition 4, an announcement is required pursuant to Chapter 10.12 of the MMLR of Bursa Securities as the aggregate percentage ratio involved was 5.86%.

Please refer to the attachment for the details of the announcement.

This announcement is dated 1 April 2022.

 

Please refer attachment below.

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Announcement Info

Company Name	KEJURUTERAAN ASASTERA BERHAD
Stock Name	KAB
Date Announced	01 Apr 2022
Category	General Announcement for PLC
Reference Number	GA1-31032022-00069