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KUCHAI DEVELOPMENT BERHAD (“Kuchai” or “Company”) Minimum share capital requirement pursuant to paragraph 8.16(A) of the Listing Requirements



SubjectKUCHAI DEVELOPMENT BERHAD (“Kuchai” or “Company”)
Minimum share capital requirement pursuant to paragraph 8.16(A) of the Listing Requirements

Contents :

Further to our announcement on 28 November 2005, Hwang-DBS Securities Berhad, on behalf of the Board of Directors of Kuchai (“Board”) wishes to announce that Bursa Malaysia Securities Berhad has granted, vide its letter dated 10 February 2006, a further extension of time from 1 February 2006 until 30 April 2006 to enable the Company to make announcement and submission of proposed corporate exercises to comply with Paragraph 8.16(A) of the Listing Requirements (“LR”).

With reference to the announcements made on 31 March 2005 and 16 December 2005, the Company has entered into a Memorandum of Understanding (“MOU”) with The Nyalas Rubber Estates Limited (“Nyalas”) 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 the Company from Nyalas for an agreed purchase consideration of RM40,000,000 (“Estate Transaction”). The Company is currently in the process of finalising the terms and conditions of binding formal agreements on the Estate Transaction with Nyalas (“Formal Agreements”). A detailed announcement on the Estate Transaction and the proposed steps to be undertaken by the Company to comply with Paragraph 8.16(A) of LR will be made in due course pursuant to the definitive Formal Agreements on the above and the proposed steps being finalised and entered into.

This announcement is dated 10 February 2006.

Announcement Info

Stock Name KUCHAI    
Date Announced10 Feb 2006  
CategoryGeneral Announcement
Reference NoOD-060210-65824

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