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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SALE AND PURCHASE AGREEMENT BETWEEN KEBUN RIMAU SDN BHD AND TAWAU COCOA ESTATE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TECK GUAN PERDANA BERHAD FOR THE PURCHASE OF ONE PARCEL OF LAND MEASURING APPROXIMATELY 510.6 ACRES HELD UNDER COUNTRY LEASE NUMBER CL 105311260 IN THE DISTRICT OF TAWAU, SABAH.

TECK GUAN PERDANA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SALE AND PURCHASE AGREEMENT BETWEEN KEBUN RIMAU SDN BHD AND TAWAU COCOA ESTATE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TECK GUAN PERDANA BERHAD FOR THE PURCHASE OF ONE PARCEL OF LAND MEASURING APPROXIMATELY 510.6 ACRES HELD UNDER COUNTRY LEASE NUMBER CL 105311260 IN THE DISTRICT OF TAWAU, SABAH.

Pursuant to Paragraph 10.06 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of Teck Guan Perdana Berhad (“Teck Guan Perdana” or “the Company”) wishes to announce that Tawau Cocoa Estate Sdn Bhd (“Tawau Cocoa Estate” or “the Purchaser”), a wholly-owned subsidiary of Teck Guan Perdana Berhad, had on 2 September 2020, entered into a Sale and Purchase Agreement (“Agreement”) with Kebun Rimau Sdn Bhd (“the Vendor”) for the purchase of one parcel of land measuring approximately 510.6 acres held under Country Lease Number CL 105311260 in the District of Tawau, Sabah (referred to as “the Acquisition”) at a purchase price of RM 11,937,828.00 (exclusive of Sales and Services Tax (“SST”), stamp duty and legal fees) and upon the terms and conditions therein contained.

 

The purchase of the Property is necessary to increase oil palm planted area and as a result, will increase fresh fruit bunch production and crop yield, to develop and realize opportunities to meet the growing market demands in line with the projected growth of the palm oil industry.

 

The details of the announcement are as per attached.

 

This announcement is dated 2 September 2020.




Please refer attachment below.



Announcement Info

Company Name TECK GUAN PERDANA BERHAD
Stock Name TECGUAN
Date Announced 02 Sep 2020
Category General Announcement for PLC
Reference Number GA1-01092020-00103




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