ACQUISITION OF 100% EQUITY INTEREST IN VIP DOME SDN BHD TOGETHER WITH AGRICULTURAL LAND LOCATED AT DISTRICT OF TAWAU, SABAH (PROPOSED ACQUISITION)

Company Name HENG HUAT RESOURCES GROUP BERHAD
Stock Name HHGROUP
Date Announced 01 Jul 2022
Category General Announcement for PLC
Reference Number GA1-29062022-00030

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-28062022-00001
Subject ACQUISITION OF 100% EQUITY INTEREST IN VIP DOME SDN BHD TOGETHER WITH AGRICULTURAL LAND LOCATED AT DISTRICT OF TAWAU, SABAH (PROPOSED ACQUISITION)
Description
ACQUISITION OF 100% EQUITY INTEREST IN VIP DOME SDN BHD TOGETHER WITH AGRICULTURAL LAND LOCATED AT DISTRICT OF TAWAU, SABAH
Query Letter Contents

We refer to your Company’s announcement dated 27June 2022, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1.       A description of the Agricultural Land (lot, title number, relevant mukim.

2.       The proposed use of the Agricultural Land, pending the commencement of development of the Agricultural Land. If proposed to be let out, the details of the rentals and the rental income or expected rental income per month or per annum.  Where the Agricultural Land is intended to be developed, the details as per Appendix 10A, Part C (4) of ACE LR.

3.       The type of estate or plantation that the Agricultural Land is currently used for, the maturity of the trees and the production for the past 3 years.

4.       The date of payment of the Deposit Sum and Balance Purchase Consideration respectively.

5.       The definition of “Retention Period”.

6.       The breakdown between internally generated funds and bank borrowings of the sources of funding for the Proposed Acquisition.

7.       The particulars of all liabilities, including contingent liabilities and guarantees to be assumed by Heng Huat Resources Group Berhad/HH Land Development Sdn Bhd arising from the Proposed Acquisition.

8.       A statement on whether the Proposed Acquisition is subject to approval of the shareholders and the relevant government authorities together with the estimated time frame for submission of the application to such authorities.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,

 


LISTING

REGULATION

 

copy : Market Surveillance Dept. , Securities Commission (via fax)

 

Reference is made to the Company’s announcement dated 27 June 2022 in relation to the Proposed Acquisition of 100% equity interest in VIP Dome Sdn Bhd together with agricultural land located at district of Tawau, Sabah  and query from Bursa Malaysia Securities Berhad  vide its letter dated 28 June 2022, in relation to the same.

 

Please refer to the attachment for the details.

 

This announcement is dated 01 July 2022.

 

 



Please refer attachment below.



Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment