General Announcement::ACQUISITION OF PROPERTIES, PLANT AND MACHINERY BY M SMELT (C) SDN BHD

Issuer & Securities

Issuer/ Manager
MALAYSIA SMELTING CORP BHD 100
Securities
MALAYSIA SMELTING CORP BHD 100 - MYL5916OO001 - NC9
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
15-Jun-2016 18:36:47
Status
New
Announcement Sub Title
ACQUISITION OF PROPERTIES, PLANT AND MACHINERY BY M SMELT (C) SDN BHD
Announcement Reference
SG160615OTHR6NAH
Submitted By (Co./ Ind. Name)
SHARIFAH FARIDAH ABD RASHEED
Designation
COMPANY SECRETARY
Effective Date and Time of the event
15/06/2016 00:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Malaysia Smelting Corporation ("MSC") wishes to announce that M Smelt (C) Sdn. Bhd., a wholly- owned subsidiary of MSC, had on 15 June 2016 entered into the following agreements with Metal Reclamation (Industries) Sendirian Berhad (Receiver and Manager Appointed):

1.the conditional sale and purchase agreement for three (3) plots of leasehold industrial land with the buildings built thereon, bearing the postal address of Lot 6, 8 & 9 Jalan Perigi Nanas 6/1 Pulau Indah Industrial Park, West Port 42920 Port Klang, Selangor ("Properties") at an aggregate cash consideration of RM32.5 million, exclusive of goods and services tax of 6%; and

2.the conditional asset sale agreement for the plant and machinery on the Properties, more particularly listed in Schedule A of the ASA at a cash consideration of RM17.5 million, exclusive of GST of 6%.


The full text of the announcement is attached hereunder.

This announcement is dated 15 June 2016.

Attachments

PROPOSED ACQUISITIONS OF PROPERTIES AND ASSETS BY MSCSB.pdf
Total size =555K