General Announcement

Reference No CC-150210-B429B

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

10/02/2015

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS 1. PROPOSED ACQUISITION BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, OF TWO (2) PIECES OF INDUSTRIAL FREEHOLD LANDS FROM MODERN UNIT SDN. BHD. (COMPANY No. 833277-P) AS FOLLOWS : a. HS(D) 541178, PTD 180984, MUKIM TEBRAU, DAERAH JOHOR BAHRU, NEGERI JOHOR MEASURING APPROXIMATELY 0.1263 HECTARE (13,594 SQUARE FEET) OR THEREABOUTS (“Land 1”) FOR A TOTAL CONSIDERATION OF RM611,730.00. b. HS(D) 541179, PTD 180985, MUKIM TEBRAU, DAERAH JOHOR BAHRU, NEGERI JOHOR MEASURING APPROXIMATELY 0.1263 HECTARE (13,594 SQUARE FEET) OR THEREABOUTS (“Land 2”) FOR A TOTAL CONSIDERATION OF RM611,730.00. 2. ENTERING INTO TWO (2) BUILDING AGREEMENTS BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, WITH BLESSPLUS SDN. BHD. (COMPANY NO. 333162-U) AS FOLLOWS : a. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY WITH A TOTAL BUILT-UP AREA OF 9,055 SQUARE FEET OR THEREABOUTS TO BE ERECTED ON LAND 1 FOR A TOTAL CONSIDERATION OF RM2,173,200.00. b. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY WITH A TOTAL BUILT-UP AREA OF 9,055 SQUARE FEET OR THEREABOUTS TO BE ERECTED ON LAND 2 FOR A TOTAL CONSIDERATION OF RM2,173,200.00. (COLLECTIVELY REFERRED TO AS THE “PROPOSED ACQUISITION”)

IRE-TEX CORPORATION BERHAD

 

Type

:

Announcement
 

Subject

:

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
 

Description

:

1. PROPOSED ACQUISITION BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, OF TWO (2) PIECES OF INDUSTRIAL FREEHOLD LANDS FROM MODERN UNIT SDN. BHD. (COMPANY No. 833277-P) AS FOLLOWS :

a. HS(D) 541178, PTD 180984, MUKIM TEBRAU, DAERAH JOHOR BAHRU, NEGERI JOHOR MEASURING APPROXIMATELY 0.1263 HECTARE (13,594 SQUARE FEET) OR THEREABOUTS (“Land 1”) FOR A TOTAL CONSIDERATION OF RM611,730.00.

b. HS(D) 541179, PTD 180985, MUKIM TEBRAU, DAERAH JOHOR BAHRU, NEGERI JOHOR MEASURING APPROXIMATELY 0.1263 HECTARE (13,594 SQUARE FEET) OR THEREABOUTS (“Land 2”) FOR A TOTAL CONSIDERATION OF RM611,730.00.

2. ENTERING INTO TWO (2) BUILDING AGREEMENTS BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, WITH BLESSPLUS SDN. BHD. (COMPANY NO. 333162-U) AS FOLLOWS :

a. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY WITH A TOTAL BUILT-UP AREA OF 9,055 SQUARE FEET OR THEREABOUTS TO BE ERECTED ON LAND 1 FOR A TOTAL CONSIDERATION OF RM2,173,200.00.

b. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY WITH A TOTAL BUILT-UP AREA OF 9,055 SQUARE FEET OR THEREABOUTS TO BE ERECTED ON LAND 2 FOR A TOTAL CONSIDERATION OF RM2,173,200.00.

(COLLECTIVELY REFERRED TO AS THE “PROPOSED ACQUISITION”)


 

The Board of Directors of Ire-Tex Corporation Berhad (“ITCB” or “the Company”) wishes to announce that Ire-Tex (Johor) Sdn Bhd ("ITJSB” or the "Purchaser" or the “Employer”), a subsidiary company of ITCB had on 10 February 2015 entered into the following agreements :

1. A sale and purchase agreement (“SPA 1”) with Modern Unit Sdn Bhd (Company No. 833277-P) ("MUSB” or the "Vendor") for the proposed acquisition of a piece of land known as HS(D) 541178, PTD 180984, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor measuring approximately 0.1263 Hectare (13,594 Square Feet) or thereabouts bearing assessment address PTD 180984, Jalan Kempas Lama, Kempas Lama, 81300 Skudai, Johor (“Land 1”) for a total cash consideration of RM611,730.00.

2. A sale and purchase agreement (“SPA 2”) with MUSB for the proposed acquisition of a piece of land known as HS(D) 541179, PTD 180985, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor measuring approximately 0.1263 Hectare (13,594 Square Feet) or thereabouts bearing assessment address PTD 180985, Jalan Kempas Lama, Kempas Lama, 81300 Skudai, Johor (“Land 2”) for a total cash consideration of RM611,730.00.

3. A building agreement (“BA 1”) with Blessplus Sdn. Bhd. (Company No. 333162-U) (“BSB” or the “Contractor”) to build a 1 storey with 2 Mezzanine Floors Semi-Detached Factory with a total built-up area of 9,055 square feet or thereabouts to be erected on the Land 1 for a total contract sum of RM2,173,200.00.

4. A building agreement (“BA 2”) with BSB to build a 1 storey with 2 Mezzanine Floors Semi-Detached Factory with a total built-up area of 9,055 square feet or thereabouts to be erected on the Land 2 for a total contract sum of RM2,173,200.00.

Please refer to the attach file for details.

 
Attachments:
Annoucement_Acquisition of Property Building agreement.pdf