Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | SALCON BERHAD ("SALCON" OR THE "COMPANY") JOINT VENTURE AGREEMENT ("JVA") BETWEEN NUSANTARA MEGAJUTA SDN BHD ("NMSB"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF SALCON, AND EXSIM KEBUN TEH SDN BHD ("EKTSB") FOR THE DEVELOPMENT OF TWO PIECES OF 99 YEARS' LEASEHOLD LAND LOCATED IN JOHOR BAHRU ("DEVELOPMENT LANDS") IN WHICH NMSB SHALL BE ENTITLED TO THE LANDOWNER'S ENTITLEMENT OF RM140,000,000 IN RETURN FOR CONTRIBUTING THE DEVELOPMENT LANDS PURSUANT TO THE JOINT VENTURE ("JOINT VENTURE") |
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The terms used herein, unless the context otherwise stated, bear the same meaning as those previously defined in the circular to shareholders of Salcon dated 21 June 2023 in relation to the Joint Venture.
Salcon wishes to announce that NMSB (Landowner) and EKTSB (Developer) had entered into a supplemental agreement dated 23 January 2025 ("Supplemental Agreement") to waive, vary and supplement certain terms and conditions of the JVA, further details as set out in the attachment.
Pursuant to the Supplemental Agreement, the Developer agrees to waive the requirement for the development approvals and the Landowner agrees to the same and further thereto, the Conditions Precedent are deemed to have been fulfilled and the Unconditional Date shall be deemed to have occurred on 5 October 2024. Accordingly, the JVA has become unconditional on 5 October 2024.
This announcement is dated 23 January 2025.
Please refer attachment below. |
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Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 23 Jan 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23012025-00058 |
Attachments
- Salcon_-_Supplemental_Agreement_announcement_20250123.pdf (Size: 85,475 bytes)