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Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

BackJun 07, 2017

Type

Announcement

Subject

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS

Description

MBM RESOURCES BERHAD ("MBMR" OR "THE COMPANY") DISPOSAL OF PROPERTY BY SUMMIT VEHICLES BODY WORKS SDN BHD ("SV"), A WHOLLY-OWNED SUBSIDIARY OF MBMR, TO AQ PACK (M) SDN BHD ("AQP"), A SUBSIDIARY OF MED-BUMIKAR MARA SDN BHD ("MBM"), A MAJOR SHAREHOLDER OF MBMR, FOR A CONSIDERATION SUM OF RM10,400,000 ("PROPOSED DISPOSAL")

Further to the announcement dated 5 June 2017 in relation to the Proposed Disposal, the Board of Directors of MBMR wishes to announce the following additional information:-

1.The built-up area and age of the factory and office respectively

Built-up area of the building which comprises a factory and office	Approximately 2,637 square metres
Age of Building	Approximately 10 years

2. The breakdown of utilization of proceeds between working capital and repayment of bank borrowing, and time frame for full utilization of proceeds

RM728,000 or 7% of the Purchase Price	Utilised as working capital immediately upon receipt
RM312,000 or 3% of the Purchase Price	Retention sum for Real Property Gains Tax. Any refund shall be utilised as working capital immediately upon receipt
RM9,360,000 or 90% of the Purchase Price	Utilised for the repayment of bank borrowings by the end of 2018

This annoucement is dated 7 June 2017.

Announcement Info

Company Name	MBM RESOURCES BHD
Stock Name	MBMR
Date Announced	07 Jun 2017
Category	General Announcement for PLC
Reference Number	GA1-07062017-00056