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Kuchai Development Berhad (“Kuchai” or the “Company”) Memorandum of Understanding

KUCHAI DEVELOPMENT BERHAD

Type

Announcement
SubjectKuchai Development Berhad (“Kuchai” or the “Company”)
Memorandum of Understanding

Contents :

With reference to the announcement dated 31 March 2005 on the Memorandum of Understanding between Kuchai and The Nyalas Rubber Estates Limited (“Nyalas”) dated 31 March 2005 in regards to the proposed acquisition of an oil palm and rubber estate measuring 813.6926 hectares situated at Mukim of Nyalas, District of Jasin, Melaka and Mukim of Ayer Kuning, District of Tampin, Negeri Sembilan by Kuchai from Nyalas for an agreed purchase consideration of RM40,000,000 ("Estate Transaction")(“MOU”), Hwang-DBS Securities Berhad, on behalf of the board of directors of Kuchai (“Board”), wishes to inform that Kuchai had on 16 December 2005 entered into a side letter with Nyalas to revive the MOU under the same terms and conditions as contained in the MOU for a further period of six (6) months from 16 December 2005. This is in light of the continuing negotiations between Kuchai and Nyalas on the Estate Transaction.


A detailed announcement on the Estate Transaction would be made in due course pursuant to the definitive formal agreements on the above being finalised and entered into.

This announcement is dated 16 December 2005.



Announcement Info

Company NameKUCHAI DEVELOPMENT BERHAD  
Stock Name KUCHAI    
Date Announced16 Dec 2005  
CategoryGeneral Announcement
Reference NoOD-051216-51189



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