We refer to your Company’s announcement dated 21 December 2022 in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1) To update on the actions/steps taken by SSB/DPS and/or Biotrend as well as the progress of the Proposed Joint Development since the date of the Joint Development Agreement (“JDA”) i.e. 8 April 2022 up to the point they decided to rescind/revoke of the JDA. The information shall include status of application(s) pertaining to the Mixed Developments/Projects made to the relevant authorities, of which the type of each application and the name of each authority and the date of approval obtained (if any) must be specified.
2) Based on the information provided under item no. 3 of the announcement dated 18 April 2022, SSB had already paid a sum of RM1.02 million out of the total RM5.1 million deposit while the remaining RM4.08 million shall be paid within 3 months from the date of the JDA. In this respect, please relook into the accuracy of the statement which reads that “SSB had on 15 August 2022 paid a deposit of RM5.1 million to Biotrend…” and provide a confirmation on the total amount of deposit which has been paid to Biotrend as to-date.
For clarity purpose and to facilitate better understanding, please provide the full payment schedule showing the exact amount and number of payments made to each Landowners together with the payment dates.
3) To confirm if there is any actual refund of the RM5.1 million deposit to SSB/DPS. If no actual refund taken place, to also comment on the reasonableness for the RM5.1 million deposit to be considered as refunded and then be treated as amount owing to SSB by Biotrend by explaining why such treatment is not detrimental to SSB/DPS and whether or not the treatment is in the best interest of SSB/DPS.
4) To state the date(s) and exact breakdown details on the amount incurred for every stated purpose/category covering the following: - Increase in the paid-up capital of Biotrend (note: to explain the rationale for this and to specify/indicate the date of such increase in the paid-up capital);
- Payment made by Biotrend for the repayment of the deposits for the Landowners [note: to also clarify what is meant by this and to list down the date(s) and payment made to each of the Landowners];
- Pre-payment of the Landowner Entitlement (note: to also clarify the rationale for such pre-payment);
- Consultant fees (note: to also specify the nature of consultancy services received together with the respective fees paid);
- Runner fees; and
- Authorities’ fees/contributions (note: to specify the name of the authorities involved together with the respective amount involved).
5) To quantify the exact amount of upfront costs incurred by Biotrend in securing the JV Lands. 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 |