All terms and expressions used herein shall have the same meaning as those used in the Company's announcement dated 2 September 2020 in relation to the Acquisition, unless stated otherwise.

We refer to our announcement dated 2 September 2020 and Bursa Malaysia query on the above and are pleased to provide the following additional information in relation to the Acquisition.

The details are as per the attached file.

We refer to your Company’s announcement dated 2 September 2020 in respect of the aforesaid matter.

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

1) To state the estimated quantum of the Sales and Services Tax, stamp duty and legal fees and the party responsible for the said payment.

2) To provide description of the facilities (21 acres) and the types of fruits and other crops that are currently planted on the 166 acres out of the 510.6 acres of land, and the future plans for the facilities, planted crops and undeveloped land.

3) To elaborate in greater details on the following basis to arrive at the Purchase Price:

(i) basis of arriving at RM11,937,828;

(ii) future potential of the Acquisition, assessment on the location, accessibility, suitability of the site, availability of public services, development of the surrounging area of the Acquistion; and

(iii) recent transacted price and location of the property in the surrounding area considered by the Board. 

4) To incorporate brief details on the encumbrances as stated in item 6(iv)(d) and whether will be discharged prior to the completion of the Acquisition. 

5) We noted that currently there is no oil palm planted on the subject land. In this regard, plase clarify further on this particular statement "The Acquisition would enable Tawau Cocoa Estate to increase its planted area and as a result, will increase fresh fruit bunch production and crop yield".

6) To state the effects on the earnings per share for the financial year ending ("FYE") 31 January 2022.

7) To tabulate the effects on the net assets per share and gearing based on the Audited Financial Statements for FYE 31 January 2020.

8) To state that the Agreement is available for inspection for a period of 3 months instead of 1 month as stated earlier.

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

Yours faithfully,

Listing

Regulation
 

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