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BOUSTEAD HOLDINGS BERHAD (“BHB”)
PROPOSED ACQUISITION OF A FREEHOLD LAND HELD UNDER TITLE NO. G 34267, LOT NO. 262, SECTION 63, TOWN OF KUALA LUMPUR, DISTRICT AND STATE OF WILAYAH PERSEKUTUAN BY TITLE WINNER SDN BHD (“TWSB”), AN 80%-OWNED SUBSIDIARY COMPANY OF BHB FROM BH INSURANCE (M) BERHAD (“BHI”) FOR A CASH CONSIDERATION OF RM15,790,000 (“PROPOSED ASSET ACQUISITION”) |
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We refer to the earlier announcement dated 22 February 2010.
AFFIN Investment Bank Berhad, on behalf of the Board of Directors of BHB, wishes to announce that Bank Negara Malaysia had, vide its letter dated 23 February 2010, stated that it has no objection for TWSB to acquire a parcel of land held under title no. G 34267, Lot No. 262, Section 63, Kuala Lumpur from BHI at a purchase price of RM15,790,000. BHI is also required to comply with the requirements under JPI/GPI 19 – ‘Guidelines on Related-Party Transactions’.
The Proposed Asset Acquisition is inter-conditional with the Proposed Disposal announced on 22 February 2010. An announcement on further details of the Proposed Disposal and Proposed Asset Acquisition will be made in due course.
This announcement is dated 24 February 2010. |
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