WCEHB - Notice of Rights Entitlement WCE HOLDINGS BERHAD
1) The Right commence of trading : 25 Oct 2019 2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of Offer : 29 Oct 2019 3) The last day and time for Acceptance, Renunciation and Payment : 11 Nov 2019 4) The Rights cessation quotation : 04 Nov 2019
In the meantime, significant reclamation works have been undertaken by the subsidiaries of the Group for our projects located at Tanjung Piai and Pengerang (both in Johor), whereby approximately RM 418.8 million of development costs have been incurred and capitalised as land reclamation work-in-progress. As the Development Agreements for these projects (which grant us the exclusive right to undertake the reclamation and development of the projects) were entered into with the State Government of Johor directly, no revenue or profit can be recognised throughout the reclamation and development process according to accounting standards.
Any revenue or profit can only be recognised upon successful disposal and/or leasing of the said land to third parties