TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS NON RELATED PARTY TRANSACTIONS - DISPOSAL OF ALL THE TWO PIECES OF LAND AND THE TWO SEPARATE FACTORIES BUILT ON EACH OF THE TWO PIECES OF LANDS HELD UNDER THE FOLLOWING TWO SEPARATE ISSUED DOCUMENTS OF TITLE :- (1) H.S.(D) 541178, PTD 180984, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare; (2) H.S.(D) 541179, PTD 180985, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare, BY IRE-TEX (JOHOR) SDN BHD

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
NON RELATED PARTY TRANSACTIONS   - DISPOSAL OF ALL THE TWO PIECES OF LAND AND THE TWO SEPARATE FACTORIES BUILT ON EACH OF THE TWO PIECES OF LANDS HELD UNDER THE FOLLOWING TWO SEPARATE ISSUED DOCUMENTS OF TITLE :-  (1) H.S.(D)   541178, PTD 180984, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare;  (2)  H.S.(D) 541179, PTD 180985, Mukim Tebrau, Daerah Johor  Bahru,  Negeri  Johor  with  the approximate  area  of 0.1263 hectare,  BY IRE-TEX (JOHOR) SDN BHD

NON RELATED PARTY TRANSACTIONS

- DISPOSAL OF ALL THE TWO PIECES OF LAND AND THE TWO SEPARATE FACTORIES BUILT ON EACH OF THE TWO PIECES OF LANDS HELD UNDER THE FOLLOWING TWO SEPARATE ISSUED DOCUMENTS OF TITLE :-
(1) H.S.(D)   541178, PTD 180984, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare;

(2)  H.S.(D) 541179, PTD 180985, Mukim Tebrau, Daerah Johor  Bahru,  Negeri  Johor  with  the approximate  area  of 0.1263 hectare,

BY IRE-TEX (JOHOR) SDN BHD (A 70%-OWNED SUBSIDIARY OF IRE-TEX), FOR A TOTAL CASH CONSIDERATION OF RM4,600,000.00

 

The Board of Directors of Ire-Tex Corporation Berhad (“Ire-Tex”) wishes to announce that on 27 December 2018 , the 70% owned subsidiary of Ire-Tex, being Ire-tex (Johor) Sdn. Bhd. (Company No. 497417-D) (“Ire-Tex Johor”) had entered into a Sale and Purchase Agreement to sell the following two pieces of lands and the two separate factories built on each of the two pieces of lands (“the said Two Properties”) to ALLIED TECHNICAL ENGINEERING SDN BHD (Company No.: 497417-D), a company incorporated in Malaysia with its registered office at 17A, Bilik 2, Jalan Dedap 6, Taman Johor Jaya, 81100 Johor Bahru, Johor and business address at No. 8, Jalan Mutiara Emas 5/21, Taman Mount Austin, 81100 Johor Bahru, Johor (the "Purchaser") subject to the terms and conditions as stipulated in the Sale and Purchase Agreement:-

 

1.    Title and particulars of the said lands (two separate issued documents of titles)

1)    H.S.(D)   541178, PTD 180984, Mukim Tebrau, Daerah

          Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare

 

2)   H.S.(D) 541179, PTD 180985, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor with the approximate area of 0.1263 hectare

 

2.    Description of the said buildings (two separate buildings / factory on each of the said lands)

 

1)     1   unit of Semi-Detached factory

 

2)    1   unit of Semi-Detached factory

 

3.       Postal Address of both the said lands

 

1)     No. 12, Jalan Karas, Kempas Lama, 81300 Johor Bahru, Johor.

 

2)    No. 16, Jalan Karas, Kempas Lama, 81300 Johor Bahru, Johor.

 

4.      Purchase   price:

 

1)    Ringgit Malaysia Two Million Three Hundred Thousand only (RM2,300,000.00)

 

2)   Ringgit Malaysia Two Million Three Hundred Thousand only (RM2,300,000.00)

 

 

The total cash consideration for the sale of the said Two Properties is RM4,600,000.00. However, the said Two Properties are currently still charged with RHB Bank Berhad and  Ire-Tex Johor is still in the midst of obtaining the redemption sum from RHB Bank Berhad in order to redeem the said Two Properties from RHB Bank Berhad.

 

Please refer to the attached document for further details.

 

This announcement is dated 27.12.2018




Please refer attachment below.



Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 27 Dec 2018
Category General Announcement for PLC
Reference Number GA1-14122018-00081