Mercury Securities
  • Try MST28 trading from Mercury Securities with rates as low as 0.05%.
  • Earn MS Coin when you trade with MST28. Check out MST28.
  • Try MST28 trading from Mercury Securities with rates as low as 0.05%.
  • Get FREE real time quotes on our website & App. Check out MST28.
Open Trading Account
add free Download App
premium Premium Account

Last Price Change Volume
KLSE Market Watch
Open: Day Range: Prev Close:


TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS LION INDUSTRIES CORPORATION BERHAD ("LICB" OR "COMPANY") Proposed acquisition of 80 acres of leasehold agriculture land located at Daerah Sepang, Selangor for a cash consideration of RM23 million

LION INDUSTRIES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
LION INDUSTRIES CORPORATION BERHAD ("LICB" OR "COMPANY") 
 
Proposed acquisition of 80 acres of leasehold agriculture land located at Daerah Sepang, Selangor for a cash consideration of RM23 million
Reference is made to the announcement by the Company on 6 January 2022 (“Announcement”). Unless otherwise stated, abbreviations and defined terms used throughout this announcement shall have the same meanings as those previously defined in the Announcement.

The Company wishes to provide the following additional information:

1. The basis of determining the Purchase Consideration of RM23 million including the discount of RM5 million for the Sub-divided 80 acres Land was arrived at after also having taken into consideration the payment terms and a lower total project costs when it is developed into mixed and industrial park in the future thus enabling project risk mitigation.

2. In respect of the prospects for the Sub-divided 80 acres Land, having close proximity to KLIA is an advantage in the Company’s plan for mixed and industrial park development targeting clean industries such as logistics hub for goods shipped by air freight and e-commerce sector for goods sorting, distribution and warehouse centres providing high security and high quality environment within the vicinity of KLIA. The Company expects to be able to create fairly good demand for the abovementioned property development products and this will auger well in contributing earnings to the LICB Group in the future.

The Sub-divided 80 acres Land is located approximately 10km from KLIA, 30km from Putrajaya, 55km from Kuala Lumpur, 60km from Northport and 80km from Westport. Its surrounding areas include KLIA, Bandar Baru Salak Tinggi, and Banting. The location map for the Sub-divided 80 acres Land is attached hereto.



Please refer attachment below.

Attachments

Location Map (overall).pdf
307.8 kB



Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 10 Jan 2022
Category General Announcement for PLC
Reference Number GA1-10012022-00038




Close