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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FARLIM GROUP (MALAYSIA) BHD (FARLIM OR THE COMPANY) DISPOSAL BY BANDAR SUBANG SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF FARLIM, OF ITS INVESTMENT IN THE ENTIRE 100% REGISTERED CAPITAL OF FARLIM TRADING (SHANDONG) CO. LTD. TO SUMMER SALUTE SDN. BHD. FOR A TOTAL CONSIDERATION OF RM11,500,000.00

FARLIM GROUP (MALAYSIA) BHD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
FARLIM GROUP (MALAYSIA) BHD (FARLIM OR THE COMPANY) 
DISPOSAL BY BANDAR SUBANG SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF FARLIM, OF ITS INVESTMENT IN THE ENTIRE 100% REGISTERED CAPITAL OF FARLIM TRADING (SHANDONG) CO. LTD. TO SUMMER SALUTE SDN. BHD. FOR A TOTAL CONSIDERATION OF RM11,500,000.00

The Board of Directors of Farlim wishes to announce that Bandar Subang Sdn. Bhd. (“BSSB”), a wholly-owned subsidiary of Farlim, has on June 23, 2022 entered into a Share Sale Agreement with Summer Salute Sdn. Bhd. [Registration No. 202201020297 (1465994-U)] (“SSSB”) of Level 2 Tower 1 Avenue 5, Bangsar South City, 59200 Kuala Lumpur for disposal by BSSB of its investment in the entire 100% Registered Capital of United States Dollars Three Million (US$3,000,000-00) of Farlim Trading (Shandong) Co. Ltd., a wholly-owned subsidiary of BSSB, to SSSB for a total cash consideration of RM11,500,000.00. 

 

Details of the said disposal are set out in the attachment.

 

This announcement is dated June 23, 2022.


Please refer attachment below.

Attachments

Announcement-disposal FTSCL (final).doc
22.9 kB


Announcement Info

Company Name FARLIM GROUP (MALAYSIA) BHD
Stock Name FARLIM
Date Announced 23 Jun 2022
Category General Announcement for PLC
Reference Number GA1-16062022-00014




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