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PROPOSED ACQUISITION OF LAND FOR A CASH CONSIDERATION OF RM14.5 MILLION ("PROPOSED LAND ACQUISITION")

Y&G CORPORATION BHD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-07102021-00001
Subject PROPOSED ACQUISITION OF LAND FOR A CASH CONSIDERATION OF RM14.5 MILLION ("PROPOSED LAND ACQUISITION")
Description
REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERHAD DATED 7 OCTOBER 2021
Query Letter Contents

We refer to your Company's announcement dated 5 October 2021, in respect of the aforesaid matter.

 

In this connection, kindly furnish Bursa Malaysia Securities Berhad (“Bursa Securities”) with the following additional information for public release:-

 

1. Name of the directors and substantial shareholders of ARHSB together with their respective direct and/or indirect shareholdings in ARHSB.

 

2. The basis of arriving at the purchase consideration of RM14.5 million, other than on a “willing buyer willing seller basis”.

 

3. Relevant information on the Land as required under item 1, 2 and 4, Part C of Appendix 10A of the Listing Requirements.

 

4. To quantify the premium required to be paid to relevant authorities to convert the agriculture land to development land.

 

5. Further elaboration on the statement “Given the strategic location and accessibility of the Land, Y&G stands to benefit from the prospect of an immediate development”.

 

6. To disclose the total size of land bank as well as its location owned by Y&G and to provide the outstanding project development currently undertaken by Y&G and its project development status.

 

7. To disclose the cash/bank balances held by Y&G as at the latest management accounts.

 

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

 

Yours faithfully

 

 

 

Listing

Regulation

 

cc:-   Market Surveillance, Securities Commission (via fax)

The Company wishes to provide additional information in response to the queries raised by Bursa Malaysia Securities Berhad on 7 October 2021 in relation to the Proposed Land Acquisition.

 

Please refer to the attachment for the details of this announcement.

 

 

This announcement is dated 8 October 2021.



Please refer attachment below.



Announcement Info

Company Name Y&G CORPORATION BHD
Stock Name Y&G
Date Announced 08 Oct 2021
Category General Announcement for PLC
Reference Number GA1-08102021-00085




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