Proposed Disposal By Kar Sin Berhad, A Wholly-owned Subsidiary Of YNH Of Property On All That Freehold Vacant Land In The Mukim Of Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur For A Total Cash Consideration Of RM170.00 Million Only To Sunway Living Space Sdn Bhd ("proposed Disposal")
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-16012024-00002 |
| Subject | PROPOSED DISPOSAL BY KAR SIN BERHAD, A WHOLLY-OWNED SUBSIDIARY OF YNH OF PROPERTY ON ALL THAT FREEHOLD VACANT LAND IN THE MUKIM OF KUALA LUMPUR, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR FOR A TOTAL CASH CONSIDERATION OF RM170.00 MILLION ONLY TO SUNWAY LIVING SPACE SDN BHD ("PROPOSED DISPOSAL") |
| Description | YNH PROPERTY BHD ("YNH" OR "COMPANY") PROPOSED DISPOSAL BY KAR SIN BERHAD, A WHOLLY-OWNED SUBSIDIARY OF YNH OF PROPERTY ON ALL THAT FREEHOLD VACANT LAND IN THE MUKIM OF KUALA LUMPUR, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR FOR A TOTAL CASH CONSIDERATION OF RM170.00 MILLION ONLY TO SUNWAY LIVING SPACE SDN BHD ("PROPOSED DISPOSAL") |
| Query Letter Contents |
We refer to your Company’s Reply to Query announcement dated 25 May 2023 in relation to the aforesaid matter.
With respect to your reply stating that you shall seek advice from the adviser to rectify the oversight pertaining to the acquisition of the freehold land held under individual title H.S.(D) 47941 P.T. 48632 in the Mukim of Kuala Lumpur, Daerah Kuala Lumpur, negeri Wilayah Persekutuan Kuala Lumpur by Kar Sin Berhad from Great Wall Park Sdn Bhd for a total cash consideration of RM150 million, please provide the details and update on the steps/actions taken in rectifying the oversight and ensure that an announcement on the said acquisition is made in accordance with Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) prior to seeking the approval of YNH’s shareholders for the said acquisition.
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 |
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We refer to Company’s reply to query announcement dated 25 May 2023 and query from Bursa Malaysia Securities Berhad (“Bursa Securities”) vide its letter dated 16 January 2024 in relation to the Proposed Disposal.
(Unless otherwise stated, the definitions set out in the Announcement shall apply herein.)
The Company wishes to announce that for the acquisition of the freehold land held under individual title H.S.(D) 47941 P.T. 48632 in the Mukim of Kuala Lumpur, Daerah Kuala Lumpur, negeri Wilayah Persekutuan Kuala Lumpur by Kar Sin Bhd from Great Wall Park Sdn Bhd for a total cash consideration of RM150 million (“Proposed Acquisition”), the Company will seek for shareholders’ approval at the forthcoming Extraordinary General Meeting (“EGM”) as required by the Sale and Purchase Agreement. Details of the EGM and Circular to Shareholders for the Proposed Acquisition will be announced in due course.
The Company will make a separate announcement in relation to the Proposed Acquisition under Chapter 10 of the Main Market Listing Requirements today.
This announcement is dated 17 January 2024.
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Announcement Info
| Company Name | YNH PROPERTY BERHAD |
| Stock Name | YNHPROP |
| Date Announced | 17 Jan 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16012024-00046 |