MSM Malaysia Holdings Bhd
MSM Malaysia Holdings Bhd
05/06/2021 | Press release | Distributed by Public on 05/06/2021 18:10
Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
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Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
| Type | Announcement |
| Subject |
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MSM MALAYSIA HOLDINGS BERHAD ('MSMH' OR 'THE COMPANY') PROPOSED DISPOSAL OF THE ENTIRE EQUITY INTEREST HELD IN MSM PERLIS SDN BHD FOR AN INITIAL DISPOSAL CONSIDERATION OF RM175.0 MILLION (SUBJECT TO ADJUSTMENT FOR NET DEBT AND NET WORKING CAPITAL AT COMPLETION) - ADDITIONAL ANNOUNCEMENT |
The announcements made by the Company on 30 April 2021 (Ref. No: GA1-29042021-00001) and 5 May 2021 (Ref. No: GA1-05052021-00134) refers.
Unless otherwise defined, the terms used herein shall have the same meaning as defined in the announcements dated 30 April 2021 and 5 May 2021.
We wish to clarify that the information provided with regards to the Proposed Disposal of Chuping, Perlis under Item A and D of the announcement dated 5 May 2021 were erroneous.
Therefore, Item A and D in the attachment to the announcement dated 5 May 2021 should be read as follows:
'A. 8 parcels of land in Chuping, Perlis
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Land title, tenure, land area, category of land use, express condition, encumbrances, restriction in interest |
See Appendix 1 |
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Existing use |
Rubber and oil palm plantation known as 'Ladang Chuping' |
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Age of the buildings |
The buildings located on Ladang Chuping which include an agriculture complex, housing complex site and agriculture research division, kindergarten, canteen clinic and guard post are approximately 47 years old (built in the 1973) |
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Maturity of the trees |
The age profile of the rubber trees and oil palm as at the date of the Valuation Report are as follows:
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Production for the past 3 years |
Rubber No latex yield production record is available as there is no major tapping of the rubber trees carried out within the subject property. The cup lump being produced in Phase/Year 2011 are as follows:
Oil palm
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Net book value |
8 parcels of land RM78.63 million based on the audited accounts for the financial year ended 31 December 2020 Building, infrastructure and office equipment RM3.02 million based on the audited accounts for the financial year ended 31 December 2020 |
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Market value |
RM173,000,000.00 based on the valuation ascribed by the Independent Valuer on 5 November 2020. The valuation was carried out using the comparison approach as the main valuation methodology and the income approach (discounted cash flow) as the secondary approach and as a check on the market value. |
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Original cost of investment |
8 parcels of land RM98.71 million Building, infrastructure and office equipment RM7.53 million |
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Date of acquisition |
21 May 2011 |
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D. 1 parcel of industrial land with a sugar refinery factory in Chuping, Perlis
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Land title, tenure, land area, category of land use, express condition, encumbrances, restriction in interest |
See Appendix 1 |
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Existing use |
Previously used as a sugar refinery factory which has ceased operation since June 2020 |
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Age of the buildings |
Approximately 50 years old |
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Net book value |
RM7.77 million based on the audited accounts for the financial year ended 31 December 2020 |
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Market value |
RM22,300,000.00 based on the valuation ascribed by the Independent Valuer on 5 November 2020. The valuation was carried out using a combination of the comparison approach and cost approach as the main valuation methodology and the income approach (investment method) as the secondary approach and as a check on the market value. |
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Original cost of investment |
RM9.47 million |
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Date of acquisition |
20 February 1972 |
Save for the abovementioned amendments highlighted in bold, all other information in the announcement dated 30 April 2021 and 5 May 2021 remains valid and unchanged.'
This announcement is dated 6 May 2021.
Announcement Info
| Company Name | MSM MALAYSIA HOLDINGS BERHAD |
| Stock Name | MSM |
| Date Announced | 06 May 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06052021-00007 |