News
Acquisition Of A Property By A Joint Venture Company Namely, Penang Automation Cluster Sdn Bhd (Company No 1192380-V) (PAC) Wherein The Company Holds 35% Equity Interest In The Issued Share Capital Of PAC [The Acquisition]
| Type | Reply to Query | ||||||||||||||||
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-08022017-00002 | ||||||||||||||||
| Subject | ACQUISITION OF A PROPERTY BY A JOINT VENTURE COMPANY NAMELY, PENANG AUTOMATION CLUSTER SDN BHD (COMPANY NO 1192380-V) (PAC) WHEREIN THE COMPANY HOLDS 35% EQUITY INTEREST IN THE ISSUED SHARE CAPITAL OF PAC [THE ACQUISITION] | ||||||||||||||||
| Description | Pentamaster Corporation Berhad (PMCB or Company) - Acquisition of a Property by a Joint Venture Company namely, Penang Automation Cluster Sdn Bhd (Company No 1192380-V) (PAC) wherein Pentamaster Technology (M) Sdn Bhd (Company No 336488-H) (PTSB), a wholly owned subsidiary company of PMCB holds 35% equity interest in the issued and paid up capital of PAC (the Acquisition) | ||||||||||||||||
| Query Letter Contents |
We refer to your Company’s announcement dated 7 February 2017, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1. The eventual issued share capital of PAC. 2. The breakdown of the total capital and investment outlay in the PAC by Pentamaster Corporation Berhad thereof. 3. The sources of funding by PAC for the purchase consideration of the Property, and the cost of development/construction of the Automated Cluster, and the breakdown. 4. A statement by the board of directors, excluding interested directors stating whether the Acquisition is in the best interests of the Pentamaster Corporation Berhad Group. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully,
TAN YEW ENG TYE/NZ Cc : Market Surveillance Dept. , Securities Commission (via fax) |
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Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the announcement dated February 7, 2017 in relation to the Acquisition. With reference to Bursa Malaysia Berhad’s query letter dated February 8, 2017 (Reference Number : IQL-08022017-00002), the Board of Directors of PMCB wishes to inform/clarify the following:- 1. The eventual issued share capital of PAC. The eventual issued share capital of PAC is RM3,000,000.00. 2. The breakdown of the total capital and investment outlay in the PAC by Pentamaster Corporation Berhad thereof. PMCB holds 35% of the issued share capital of PAC and hence, the total capital and investment outlay is RM1,050,000.00. 3. The sources of funding by PAC for the purchase consideration of the Property, and the cost of development/construction of the Automated Cluster, and the breakdown. The Purchase Price of the Property and the cost of development/construction of the Automation Cluster will be financed via PAC’s capital and bank borrowings. The breakdown of which are as follows:-
No development approvals have been obtained for the Automation Cluster yet and the Automation Cluster is still in its initial planning stage. Therefore, the cost of development/construction of the Automation Cluster and the amount of funding required is a preliminary estimate at this juncture and may be subject to further refinement. 4. A statement by the board of directors, excluding interested directors stating whether the Acquisition is in the best interests of the Pentamaster Corporation Berhad Group. The Board of Directors of PMCB is of the opinion that the Acquisition is in the best interest of the PMCB Group. This announcement is dated February 10, 2017. |
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Announcement Info
| Company Name | PENTAMASTER CORPORATION BERHAD |
| Stock Name | PENTA |
| Date Announced | 10 Feb 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10022017-00048 |