Transactions (Chapter 10 Of Listing Requirements): Non Related Party Transactions
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21/03/2011 |
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Announcement | |
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Announcement Details/Table Section :
Salcon Berhad (“Salcon” or “Company”) is pleased to announce that SCHK, a wholly-owned subsidiary of the Company had on 21 March 2011 entered into a Concession Agreement (“CA”) with Changzhou City Tian Ning District Diao Zhuang Street Office (“CCTNDDZSO”) of No. 700, Wu Zhong Boulevard, Changzhou City, Jiangsu Province, People’s Republic of China (“PRC”) to acquire, upgrade, operate and maintain the Changzhou Southeast Industrial Wastewater Treatment Plant at Tian Ning, Changzhou, Jiangsu Province, PRC (“Project”) on Transfer-Operate-Transfer (“TOT”) basis (“Concession”). The Project will be carried out through a wholly-owned subsidiary of the Company to be incorporated in China later (“Newco”).
SCHK had also on even date entered into a Asset Transfer Agreement (“ATA”) with CSIWTP, a division under the Economic Development Zone of CCTNDDZSO where CSIWTP will transfer its waste water treatment plant mentioned above to SCHK for a total cash consideration of RMB60.0 million (equivalent to approximately RM27,702,110.00, which was converted based on the exchange rate as at 9 March 2011 of RM1 vs RMB2.1659) (“Acquisition”).
For further information, please refer to the attached file.
Attachments
- Salcon210311.pdf (Size: 79,236 bytes)