Joint Venture Agreement Between A Wholly-owned Subsidiary, Kar Sin Bhd And Genland Sdn Bhd ("Proposed Joint Venture")
Type | Reply to Query |
Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-06102025-00002 |
Subject | JOINT VENTURE AGREEMENT BETWEEN A WHOLLY-OWNED SUBSIDIARY, KAR SIN BHD AND GENLAND SDN BHD ("PROPOSED JOINT VENTURE") |
Description | YNH PROPERTY BHD ("YNH" OR "COMPANY") - JOINT VENTURE AGREEMENT BETWEEN A WHOLLY-OWNED SUBSIDIARY, KAR SIN BHD AND GENLAND SDN BHD |
Query Letter Contents |
We refer to your Company's announcement dated 2 October 2025, in respect of the aforesaid matter. 1
Section 2
1) To provide all other relevant details in the manner specified under Paragraph 4, Part C, Appendix 10A of the Main Market Listing Requirements.
2) To state whether any valuation was carried out by an independent market valuer. If yes, please provide the relevant details including the name of the market valuer, date of valuation, market value appraised by the market valuer and the methodology adopted. If no, please justify how the determination of the landowner's entitlement be carried out on a fair manner to ensure that the JVA is in the best interest of YNHPROP and is not detrimental to the interest of the shareholders of YNHPROP.
Section 3
3) Under the ‘Information on GSB', to disclose the following:
(i) The name of the substantial shareholder(s) together with the shareholding held; and (ii) Whether GSB is a party related to the YNHPROP Group (i.e. YNHPROP and its subsidiary) and/or major shareholders of YNHPROP.
Section 6
4) To further elaborate how would YNHPROP's financial earnings be enhanced/strengthened via the development of the Project under the JVA.
Appendix A
5) For Note 1 of item 2, please provide the following:
(a) To explain the rationale for selling the Land to GSB instead of keeping it for KSB's own development.
(b) To disclose the cost and date of investment for the Land by KSB/YNHPROP together with a quantitative computation on the disposal gain/loss from the disposal of the Land to GSB.
(c) To provide a detailed disclosure on the utilisation of the disposal proceeds and the status/timeline of such utilisation.
6) For item 3.1(i), to provide the basis in deriving at the GSB's Minimum Entitlement.
7) For item 3.1(ii), to name who is the appropriate authority and to disclose whether any application has been submitted to such authority. If yes, please state the date of application together with the indicative timeline in obtaining the approval. Otherwise, please indicate the planned timeline to submit the application.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully, Regulation Cc : Market Surveillance Dept. , Securities Commission Malaysia |
We refer to the query from Bursa Malaysia Securities Berhad vide its letter dated 6 October 2025 in relation to the Joint Venture Agreement between a wholly-owned subsidiary, Kar Sin Bhd and Genland Sdn Bhd.
Please find the Company's replies in the attachment below.
This announcement is dated 7 October 2025.
Please refer attachment below. |
Announcement Info
Company Name | YNH PROPERTY BERHAD |
Stock Name | YNHPROP |
Date Announced | 07 Oct 2025 |
Category | General Announcement for PLC |
Reference Number | GA1-07102025-00030 |
Attachments
- YNH_Property_Bhd-Reply_to_Query_dd_06Oct2025_20251007.pdf (Size: 822,182 bytes)