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Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description |
PROPOSED ACQUISITION OF A PARCEL OF LAND TOGETHER WITH TWO (2) UNITS OF INDUSTRIAL BUILDINGS ERECTED THEREON SITUATED AT SEJINGKAT INDUSTRIAL PARK, KUCHING DESCRIBED AS LOT 830 BLOCK 7 MUARA TEBAS LAND DISTRICT BY SCIB CONCRETE MANUFACTURING SDN. BHD. ("SCIBCM"), A WHOLLY-OWNED SUBSIDIARY OF SARAWAK CONSOLIDATED INDUSTRIES BERHAD ("SCIB") FROM REIGNVEST CORPORATION SDN. BHD. ("RCSB") FOR A CASH CONSIDERATION OF RM8,236,000.00 ("PROPOSED ACQUISITION") |
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The Board of Directors of SCIB wishes to announce that SCIBCM had on 24 January 2019 entered into a Sale and Purchase Agreement (“SPA”) with RCSB, a company related to the directors and major shareholders of SCIB, namely, YBhg Tan Sri Datuk Amar (Dr) Hamid Bin Bugo and Encik Rewi Hamid Bugo, for the Proposed Acquisition. In view of the interests of the above mentioned directors and major shareholders of SCIB in the Proposed Acquisition, the Proposed Acquisition is a related party transaction under Paragraph 10.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. Further details of the Proposed Acquisition are set out in the file as attached. This announcement is dated 24 January 2019. |
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Please refer attachment below.
Announcement Info
| Company Name | SARAWAK CONSOLIDATED INDUSTRIES BERHAD |
| Stock Name | SCIB |
| Date Announced | 24 Jan 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14122018-0004 |
Attachments
- SCIB_Announcement_-_24.01.19.pdf (Size: 670,686 bytes)
