News

Pursuant to Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), the Board of Directors of KAB (“Board”) wishes to announce that KAB Smart Solar Energy Sdn Bhd (“KSSE”), a wholly-owned subsidiary of KAB has on 16 February 2021 entered into a Binding Term Sheet (“BTS”) with MHSB, Evergreen Thumbsup Sdn Bhd (“ETSB”) and Mr Heng Boon Liang (“HBL”) for subscription of 800,000 ordinary shares in MHSB, representing 80% of the total proposed enlarged paid up share capital in MHSB, for a total cash consideration of RM800,000.00 (“Subscription Price”) (“Proposed Subscription”).

(KSSE, MHSB, ETSB and HBL are collectively to be referred to as the “Parties”)

The principal terms and conditions outlined in the BTS is to record the understanding and terms between the Parties for KSSE and ETSB to subscribe for MHSB’s shares.

Please refer to the attachment for further details on the Proposed Subscription.