Proposed disposal by Salcon Development Sdn Bhd, a wholly-owned subsidiary of SALCON, of its entire 4,519,569 shares comprising 20 ordinary shares and 4,519,549 preference shares, representing 20% of the total issued share capital in Eco World-Salcon Y1 Pty Ltd ('EWSY1') to Fortune Quest Group Ltd, a wholly-owned subsidiary of Eco World International Berhad for a total cash consideration of AUD4,519,569
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-15042019-00001 |
| Subject | Proposed disposal by Salcon Development Sdn Bhd, a wholly-owned subsidiary of SALCON, of its entire 4,519,569 shares comprising 20 ordinary shares and 4,519,549 preference shares, representing 20% of the total issued share capital in Eco World-Salcon Y1 Pty Ltd ('EWSY1') to Fortune Quest Group Ltd, a wholly-owned subsidiary of Eco World International Berhad for a total cash consideration of AUD4,519,569 |
| Description |
SALCON BERHAD ('SALCON' OR 'THE COMPANY') PROPOSED DISPOSAL BY SALCON DEVELOPMENT SDN BHD ('SDSB'), A WHOLLY-OWNED SUBSIDIARY OF SALCON, OF ITS ENTIRE 4,519,569 SHARES COMPRISING 20 ORDINARY SHARES AND 4,519,549 PREFERENCE SHARES, REPRESENTING 20% OF THE TOTAL ISSUED SHARE CAPITAL IN ECO WORLD-SALCON Y1 PTY LTD ('EWSY1') TO FORTUNE QUEST GROUP LTD ('FORTUNE QUEST'), A WHOLLY-OWNED SUBSIDIARY OF ECO WORLD INTERNATIONAL BERHAD ('EWI') FOR A TOTAL CASH CONSIDERATION OF AUD4,519,569 |
| Query Letter Contents |
We refer to the Company’s announcement dated 11 April 2019 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1. The net profits of EWSY1 based on its latest audited accounts. 2. Whether any valuation was carried out on the Property; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value. 3. Further details of the Property as per Part C, Appendix 10A of the Listing Requirements. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG
Cc : Market Surveillance Dept., Securities Commission (via fax) |
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We refer to the announcement dated 11 April 2019 ('Announcement') and the query letter dated 15 April 2019 from Bursa Securities in relation to the Proposed Disposal. Unless stated otherwise, definitions used in this reply shall carry the same meaning as defined in the Announcement. The Board wishes to provide the additional information as attached herewith.
Please refer to the attached file for more details. |
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Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 16 Apr 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16042019-00021 |
Attachments