The board of directors of SAB (“Board”) wishes to announce that on 16 May 2025, the wholly owned subsidiary of the Company, Win Soon Auto Suppliers Sdn. Bhd. [Registration No.: 200701025854 (783875-W)] (“WS” or “Vendor”), have entered a conditional sale and purchase agreement (“SPA”) with PAM Machinery Components (M) Sdn. Bhd. [Registration No.: 198901009335 (186636-A)] (“PAM” or “Purchaser”) for the proposed disposal of all that piece of ninety-nine (99) years leasehold land expiring on 10 February 2113 held under H.S.(D) 79428, PT 11306, Bandar Selayang, Daerah Gombak, Negeri Selangor with an area measuring approximately 612.61 square metres together with a two (2) storey semi-detached factory erected thereon and bearing postal address of Lot 20, Jalan Perusahaan Amari, Pusat Industri Amari, Kawasan Perindustrian Batu Caves, 68100 Batu Caves, Selangor (“Subject Property”) for a total consideration of RM6,280,000.00 (“Disposal Consideration”) (“Proposed Disposal”).
The Proposed Disposal is deemed to be related party transaction pursuant to Paragraph 10.08 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) in view of the interests of certain director and major shareholder of SAB as set out in Section 9 of this announcement.
Further details of the Proposed Disposal are set out in the attachment below.
This announcement is dated 16 May 2025.
Please refer attachment below.