Dear fellow Investors of i3 Forum,
Since the Announcement of TSH Selling Bulugan Land for Rm731.09 Millions there was heightened expectation.
However, to- date only Rm457.5 Millions have been received according to Bursa filing by TSH
Now people have been asking for the balance sum of Rm273.59 Millions?
Why Is it missing?
Now please read carefully our explanation
Actually on Jan 18 2023 TSH only announced 2nd progressive sale (Not Yet Final Sale)
Refer to Bursa website
Scroll back to January 18th 2023 announcement
And we quote
TSH RESOURCES BERHAD |
Type | Announcement | ||||||||||||||||||
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS | ||||||||||||||||||
Description | TSH RESOURCES BERHAD ("TSH" OR THE "COMPANY") | ||||||||||||||||||
Unless otherwise defined, all terms used in this announcement shall have the same meanings as defined in the announcements dated 10 December 2021, 7 February 2022, 8 March 2022, 4 April 2022, 7 June 2022, 29 June 2022 and 9 August 2022 in relation to the Proposed Disposal.
On behalf of the Board of Directors of TSH, RHB Investment Bank wishes to announce that all the conditions precedent in relation to the CSPA in respect of 574.56 hectares of the Uncertified Land have been fulfilled or waived as at 18 January 2023.
In addition, we wish to announce that the disposal for the 574.56 hectares of the Uncertified Land has also been completed on even date following the receipt of the total compensation in respect of the 574.56 hectares of the Uncertified Land from the Buyers.
The announcement is dated 18 January 2023. From the above please note The 2nd batch of land sold was only 574.56 hectares So there remain many hectares sold in principle but payment YET TO BE COMPLETED (So unless final delivery TSH will still need to await payment A further info is clearly stated in latest Announcement of 4th August 2023 See the content WHEN TSH PROPOSED FOR DUAL LISTING IN SINGAPORE On behalf of the Board, RHB Investment Bank Berhad announced that PT BCAP, KIKI and KIPI had on 4 April 2022 entered into a conditional sale, purchase and compensation of land agreement for PT BCAP to dispose the Sale Land to KIKI and KIPI for a total disposal consideration of Rp2,428.86 billion (equivalent to approximately RM731.09 million(1)) to be satisfied entirely by cash (“CSPA”) (“Proposed Disposal”). Note: (1) Based on an exchange rate of Rp1.00: RM0.000301 extracted from Bank Negara Malaysia as at 13 May 2022. On 29 June 2022, our shareholders approved the Proposed Disposal. On 8 August 2022, the disposal of 7,817.36 hectares of certificated land was completed. On 18 January 2023, the disposal of 574.56 hectares of uncertified land was completed. As at the LPD, the completion of the disposal of approximately 5,397.54 hectares of land is pending the fulfilment of the conditions precedent as set out in the CSPA, by the extended long stop date of 4 July 2024. From above we clearly see 1) On 8 August 2022, the disposal of 7,817.36 hectares of certificated land was completed. This is first completion of land sold (7,817.36 acres) 2)On 18 January 2023, the disposal of 574.56 hectares of uncertified land was completed. This is the second completion of land sold (Note: Only 574.56 acres and quite small) There is an apparent misunderstanding that the Entire Lands were sold and completed which is regretfully not true No. The actual status is there is yet much lands in the process of sale completion So please see carefully next As at the LPD, the completion of the disposal of approximately 5,397.54 hectares of land is pending the fulfilment of the conditions precedent as set out in the CSPA, by the extended long stop date of 4 July 2024. CALVIN COMMENTS: SO 5,397.54 HECTARES (Or 13,337 ACRES) YET TO BE SOLD What is the actual current status of Balance SUM? The answer is this: The buyers still awaiting the fulfillment of all conditions for land of 5,397.54 hectares to be finalized before making the final payment of Rm273 Millions which is the Balance Sum of purchase This means that TSH BOD (Board of Directors have not yet received the Full Balance Payment yet Now Buyer asking for extension for payment is perfectly legal and proper and right as Paper work yet to be completed See Example of Pm Corp PM CORP was supposed to sell its Shah Alam Lands for Rm41 Millions But Buyers requested to time extension as well Please refer Bursa announcement by Pm Corp TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PAN MALAYSIA CORPORATION BERHAD ("PMC" OR "COMPANY") PROPOSED DISPOSAL BY NETWORK FOODS INDUSTRIES SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF PMC, OF THE LEASEHOLD LAND HELD UNDER H.S.(D) 324738, PT[-], MUKIM DAMANSARA, DAERAH PETALING, NEGERI SELANGOR MEASURING APPROXIMATELY 24,295.208 SQUARE METERS AND THE BUILDINGS ERECTED THEREON TOGETHER WITH THE FIXTURES AND FITTINGS TO AMAZING BLITZ SDN BHD FOR A TOTAL DISPOSAL CONSIDERATION OF RM41,000,000.
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Created by calvintaneng | Aug 30, 2024
Created by calvintaneng | Aug 30, 2024
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calvintaneng
When the balance sun of Rm273 million comes in TSH will report a profit of 20 sen & then too late to buy TSH cheap
Just like after Bplant reported 19 sen profit from Kulai Young land sold & price jumped
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3260879
Better buy Tsh now while so cheap
Once people see the turnaround figures they will have to pay a premium
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3260879
2023-09-12 17:46