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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACQUISITION OF INDUSTRIAL LAND FOR CASH CONSIDERATION OF RM13,584,330.00

AURELIUS TECHNOLOGIES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ACQUISITION OF INDUSTRIAL LAND FOR CASH CONSIDERATION OF RM13,584,330.00

Reference is made to the announcements of Aurelius Technologies Berhad (the "Company") made on 15 May 2023, 10 May 2023, 20 April 2023, 14 April 2023, 14 March 2023 and 13 January 2023 in relation to the acceptance of the letter of offer from Northern Technocity Sdn. Bhd. ("NTCSB") for the purchase of a vacant industrial land measuring approximately 301,874 sq. ft., located within Kulim Hi-Tech Park held under HS(D) 83925, PT 5930 Seksyen 39, Bandar Kulim, District of Kulim, State of Kedah (“New Land 1”), for a total cash consideration of Ringgit Malaysia Thirteen Million Five Hundred Eighty Four Thousand and Three Hundred Thirty (RM13,584,330.00) only (“Purchase Price”).

 

The Board of Directors of the Company wishes to announce that BCM Electronics Corporation Sdn. Bhd., a wholly owned subsidiary of the Company, had, on 7 May 2024,:

  1. made a payment of Ringgit Malaysia Five Million Four Hundred Thirty Three Thousand Seven Hundred and Thirty Two (RM5,433,732.00) only, which is equivalent to forty percent (40%) of the Purchase Price, to NTCSB, and accordingly
  2. taken early site possession of New Land 1 prior to the completion of the Sale and Purchase Agreement executed on 10 May 2023 (“SPA1”).

This is intended to facilitate the commencement of construction of the new 243,977 sq. ft. integrated manufacturing plant (“P5”) for the introduction of advanced manufacturing for the new automotive and IoT businesses. P5 will also be equipped with 12,945 sq. ft. of clean room facilities. The construction cost of P5 is estimated to be approximately Ringgit Malaysia Seventy Five Million (RM75,000,000.00) only and is targeted to be operationally ready by the end of 2024.

 

The target completion date for the SPA1 is expected to be on 3 June 2024.

 

This announcement is dated 7 May 2024.






Announcement Info

Company Name AURELIUS TECHNOLOGIES BERHAD
Stock Name ATECH
Date Announced 07 May 2024
Category General Announcement for PLC
Reference Number GA1-07052024-00019



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