Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR THE "COMPANY") PROPOSED ACQUISITION BY KAB ENERGY HOLDINGS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF KAB, OF 100% EQUITY INTEREST IN PT INPOLA MITRA ELEKTRINDO ("PROPOSED ACQUISITION") |
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We refer to the announcements dated 19 January 2022, 29 March 2022, 20 June 2022, 30 June 2022, 29 July 2022 and 30 August 2022 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
On behalf of KAB, Kenanga IB wishes to announce that KAB has received a letter dated 13 October 2022 from SCB, who is one of the Vendors in relation to the Proposed Acquisition, notifying KAB that SCB had obtained a restraining order in the High Court of Kuching (“Court”) pursuant to Section 368 of the Act (“Restraining Order”). In the said letter, SCB informed that it would be unable to proceed with the fulfilment of conditions precedent and pre-handover issues of the SPA during the period of the Restraining Order. SCB also stated in the letter that it would notify KAB when the Restraining Order is lifted by the Court.
Pursuant to the above, KAB is in the midst of deliberating on the next course of action. Any further developments pertaining to this matter will be announced in due course.
This announcement is dated 17 October 2022.
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Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 17 Oct 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17102022-00057 |
Kinergy Advancement Berhad
No. 18, Jalan Radin Bagus 9, Bandar Baru Sri Petaling, 57000 Kuala Lumpur, Malaysia.