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Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

BackNov 30, 2017
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description

C.I. Holdings Berhad ("CIHB" or "the Company") - Related Party Transaction - Proposed Acquisition of Property

The Board of Directors of C.I. Holdings Berhad (“CIH” or “the Company”) wishes to announce that Palmtop Vegeoil Products Sdn Bhd (Company No. 266956-P), a 60%-owned subsidiary of Continental Resources Sdn Bhd (Company No. 173543-U) ("CRSB") has on 30 November 2017 entered into a Sale and Purchase Agreement for the acquisition of a piece of land together with two (2) detached factory buildings erected thereon known as PLO 18, Jalan Pekeliling, Kawasan Perindustrian Pasir Gudang, 81700 Pasir Gudang, Johor Darul Takzim ("the Property") for a total purchase consideration of RM7,500,000.00 only (“Proposed Acquisition”) with Mr Fung Heen Choon, Madam Lee Cheang Mei and Dato' Tan Fok Wah (collectively referred as "the Vendors"). CRSB is a wholly-owned subsidiary of the Company.

 

Please refer to the attachment for details of the Proposed Acquisition.

 

This announcement is dated 30 November 2017.

 

 


Announcement Info

Company Name C.I. HOLDINGS BERHAD
Stock Name CIHLDG
Date Announced 30 Nov 2017
Category General Announcement for PLC
Reference Number GA1-29112017-00017

Attachments

  1. CIH-Acquisition_of_Property_SPA_30112017.pdf (Size: 665,982 bytes)