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UNITRADE INDUSTRIES BERHAD ("UIB" OR "THE COMPANY") - PROPOSED ACQUISITION OF LAND HELD UNDER HS(M) 12118 LOT NO PT 5 MUKIM OF SUNGAI BULOH, DISTRICT OF PETALING, SELANGOR ("PROPOSED ACQUISITION")

UNITRADE INDUSTRIES BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-13032024-00003
Subject UNITRADE INDUSTRIES BERHAD ("UIB" OR "THE COMPANY") - PROPOSED ACQUISITION OF LAND HELD UNDER HS(M) 12118 LOT NO PT 5 MUKIM OF SUNGAI BULOH, DISTRICT OF PETALING, SELANGOR ("PROPOSED ACQUISITION")
Description
Unitrade Industries Berhad ("UIB" or "the Company")
- Proposed Acquisition of Land held under HS(M) 12118 Lot No PT 5 Mukim of Sungai Buloh, District of Petaling, Selangor ("Proposed Acquisition")
Query Letter Contents

We refer to your Company’s announcement dated 12 March 2024, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The method of valuation of the said Land.
2) The particulars of all liabilities, including contingent liabilities and guarantees to be assumed by Perfect CLQ Sdn Bhd/UIB, arising from the Proposed Acquisition.
3) The date of which the deposit of RM 200,000 was paid.
4) The status and the name of the authorities that grant the approval of Kebenaran Merancang.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing Division, Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcement dated 12 March 2024.   

 

Further to Unitrade Industries Berhad’s (“UIB” or the “Company”) announcement dated 12 March 2024 and Bursa Malaysia Securities Berhad’s (“Bursa Securities”) query letter reference number IQL-13032024-00003 dated 13 March 2024 (“Bursa query”), the Company wishes to announce the following additional information as required by Bursa Securities:-

 

1. The method of valuation of the said Land

 

The valuation was conducted by adopting the Comparison Approach. Under this approach, the value of the property is determined by comparing it with recent sales and/or listings of similar properties in the vicinity, or if not available, within similar localities.

 

2. The particulars of all liabilities, including contingent liabilities and guarantees to be assumed by Perfect CLQ Sdn Bhd/UIB, arising from the Proposed Acquisition

 

There are no liabilities including contingent liabilities and guarantees to be assumed by Perfect CLQ Sdn Bhd or UIB pursuant to the Proposed Acquisition.

 

3. The date of which the deposit of RM200,000 was paid

 

The deposit of RM 200,000 was paid on the date of signing of the Sale and Purchase Agreement which was on 12 March 2024.

 

4. The status and the name of the authorities that grant the approval of Kebenaran Merancang.

 

The approval of the KM was sought from Majlis Bandaraya Shah Alam on 16 February 2024, pursuant to a Limited Power of Attorney granted by landowners on 15 February 2024 to Perfect CLQ Sdn. Bhd.. The application is pending One Stop Center (OSC) meeting, whereby when approved, we will submit the final layout for endorsement.

 

This announcement is dated 14 March 2024.





Announcement Info

Company Name UNITRADE INDUSTRIES BERHAD
Stock Name UNITRAD
Date Announced 14 Mar 2024
Category General Announcement for PLC
Reference Number GA1-14032024-00042



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