The Company wishes to announce that its wholly-owned subsidiary, Part Center Sdn. Bhd. (“PCSB” or “Purchaser”) has on 11 December 2024 signed a Letter of Offer (“LO”) issued by Top Quality Glove Sdn. Bhd. (“TQG” or “Vendor”).
The LO is in relation to the proposed acquisition of all that one (1) piece of freehold agricultural land held under Geran Mukim 6046, Lot 5133, Mukim Kapar, Tempat 6 Mile Sungei Binjai Road measuring approximately 1.897 hectares (4.687 acres) located at Lot 5133, Jalan Dahlia, Kawasan Perindustrian Meru Timur, 41050 Klang, Selangor Darul Ehsan, Malaysia (“Asset”) from the Vendor for an indicative purchase consideration of RM15,924,926.16 (“Proposed Acquisition”).
Pursuant to the LO, PCSB and the Vendor shall enter into a definitive agreement for the Proposed Acquisition within one (1) month from the date of acceptance of the LO.
Further details of the Proposed Acquisition are set out in the attachment below.
This announcement is dated 11 December 2024.