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PROPOSED ACQUISITION OF BIOTREND ASIA (M) SDN BHD ("BIOTREND") ("PROPOSED ACQUISITION")

DPS RESOURCES BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-23122022-00002
Subject PROPOSED ACQUISITION OF BIOTREND ASIA (M) SDN BHD ("BIOTREND") ("PROPOSED ACQUISITION")
Description
DPS RESOURCES BERHAD ("DPS" OR "THE COMPANY")

PROPOSED ACQUISITION OF BIOTREND ASIA (M) SDN BHD ("BIOTREND") ("PROPOSED ACQUISITION")
Query Letter Contents

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) Section 1

a) To specify the date of the SSA for clarity purpose.

 

b) With respect to the liabilities of the debtors and creditors to be assumed by DPS, please provide the name of each debtor and creditor together with the respective amount of liabilities to be assumed by DPS.

 

2) Section 2

a) To clarify whether or not there is an expiry date to the Development Rights. If yes, to state the date accordingly. To also provide latest development/ update/changes to the JVAs with the Landowners. Otherwise, please provide a statement confirming that the JVAs are still subsisting without any change.

 

b) To provide the summary of audited financial information of Biotrend for the past 3 financial years as well as the latest unaudited financial information available. To also provide the details of the property development projects completed by Biotrend in the past, which shall include name of each project, contract value and the completion date.

 

c) With respect to the Mixed Development/Projects, to provide the following information:

  • The basis in deriving the estimated cost of RM105.6 million;
  • The amount of total costs already incurred as to-date together with the relevant breakdown details;
  • Details on the Projects pursuant to Paragraph 4, Part C of Appendix 10A of the Main Market Listing Requirements of Bursa Securities (“MMLR”); and
  • A statement on whether or not there is an independent market valuation to support the gross development value and gross development cost. If yes, please provide the relevant details which shall include the name of the valuation firm/valuer, the date and method of the valuation as well as the market value appraised by the said valuer, otherwise, please provide the reason and/or factors which hinder such progress.

3) Section 4

To indicate the estimated future earnings/profit to be derived from the Projects.

 

4) Others

To provide a statement as required under Paragraph 3, Appendix 10C of the MMLR.

 

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

Reference is made to the Announcement dated 21 December 2022 in respect of the aforesaid matter (“Announcement”).


(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcement.)


The Board wishes to announce the following additional information as required by Bursa Securities via its letter (ref no: IQL-23122022-00002) dated 27 December 2022.

 

Please refer to the attachment for the additional information.

 

This announcement is dated 29 December 2022. 



Please refer attachment below.



Announcement Info

Company Name DPS RESOURCES BERHAD
Stock Name DPS
Date Announced 29 Dec 2022
Category General Announcement for PLC
Reference Number GA1-29122022-00064



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