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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LIFE WATER BERHAD ("LWB" OR " THE COMPANY") - PROPOSED ACQUISITION BY GREEN BORNEO INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF LIFE WATER, OF ONE (1) PARCEL OF LAND TOGETHER WITH A PURPOSE-BUILT OFFICE COMPLEX AND ANCILLARY WORKSHOP ERECTED THEREON FOR A TOTAL CASH CONSIDERATION OF RM15,000,000.00
LIFE WATER BERHAD
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
LIFE WATER BERHAD ("LWB" OR " THE COMPANY") - PROPOSED ACQUISITION BY GREEN BORNEO INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF LIFE WATER, OF ONE (1) PARCEL OF LAND TOGETHER WITH A PURPOSE-BUILT OFFICE COMPLEX AND ANCILLARY WORKSHOP ERECTED THEREON FOR A TOTAL CASH CONSIDERATION OF RM15,000,000.00
Reference is made to the announcement by LWB dated 8 October 2026 ("Announcement") in respect of the aforesaid matter. Unless otherwise defined, the abbreviations used herein shall have the same meaning as those mentioned in the Announcement.
The Board of Directors ("Board") of LWB wishes to provide the following additional information in relation to the Proposed Acquisition:-
1. Information of the Shareholders of Kee Foh Haw Sdn. Bhd. ("Vendor")
The shareholders of the Vendor and their respective direct and indirect shareholdings are as follows: -
Name of Shareholder
No. of Shares Held
Direct Shareholding (%)
Indirect Shareholding%
Lo Soo Yun
125,000
50
-
Lo Su Qi
125,000
50
-
Total
250,000
100
-
2. Basis and Justification for the Purchase Consideration
The purchase consideration of RM15.0 million was arrived at on a "willing-buyer willing-seller" basis after taking into consideration, amongst others, the location, land area, existing building, condition of the Property and prevailing market conditions.
In assessing the reasonableness of the purchase consideration, LWB also took into consideration the market value of the Property of RM15.0 million as at 10 September 2026, as appraised by Knight Frank Malaysia Sdn. Bhd. , the independent property valuer appointed by LWB for the Proposed Acquisition. The market value was determined using the comparison approach and cross-checked against the cost approach.
Taking into consideration the above factors, the Board is of the view that the purchase consideration is fair and reasonable and is in the best interests of the Company.