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PROPOSED ACQUISITION OF FIVE (5) PARCELS OF LAND BY PLUTO SDN. BHD., A 55%-OWNED SUBSIDIARY OF THE COMPANY, FROM BALKHIS BINTI OTHMAN AND SITI HAWA BINTI OTHMAN FOR A TOTAL CONSIDERATION OF RM7,400,907.59

S & F CAPITAL BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-07112022-00002
Subject PROPOSED ACQUISITION OF FIVE (5) PARCELS OF LAND BY PLUTO SDN. BHD., A 55%-OWNED SUBSIDIARY OF THE COMPANY, FROM BALKHIS BINTI OTHMAN AND SITI HAWA BINTI OTHMAN FOR A TOTAL CONSIDERATION OF RM7,400,907.59
Description
REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERHAD DATED 7 NOVEMBER 2022
Query Letter Contents

We refer to your Company’s announcement dated 4 November 2022, in respect of the aforesaid matter.


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

 

1) To provide the detailed basis and justification in arriving at the purchase price for the Proposed Acquisition, including further elaboration on the development potential of the Lands and its readiness for future development activities taking into consideration that the Lands are agricultural lands.

2) To state whether any valuation has been conducted on the Lands. If so, to provide the name of the independent registered valuer, date and method of valuation and quantification of the market value.

3) To provide further justification on the acquisition of agricultural lands when the rationale of the Proposed Acquisition are, amongst others, for future property development activities.
4) To state the development restrictions of the Lands, in view that the Lands are agricultural lands as well as the express conditions of the Lands.
5) To state the Company’s plan to address the restrictions stated in item (4) above in order to undertake property development activities on the Lands.

 

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)

The Company wishes to provide additional information in response to the queries raised by Bursa Malaysia Securities Berhad on 7 November 2022 in relation to the Proposed Acquisition of five (5) parcels of land by Pluto Sdn. Bhd., a 55%-owned subsidiary of the Company, from Balkhis Binti Othman and Siti Hawa Binti Othman for a total consideration of RM7,400,907.59.

 

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

 

This announcement is dated 8 November 2022.

 

Please refer attachment below.



Please refer attachment below.



Announcement Info

Company Name S & F CAPITAL BERHAD
Stock Name S&FCAP
Date Announced 08 Nov 2022
Category General Announcement for PLC
Reference Number GA1-08112022-00012



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