General Announcement for PLC

08/04/2022

OTHERS ACQUISITION OF THE HERITAGE TOWERS @ THE MINES WELLNESS CITY BY COUNTRY HEIGHTS SEA RESORT SDN BHD, A WHOLLYOWNED SUBSIDIARY OF COUNTRY HEIGHTS HOLDING BERHAD THROUGH PUBLIC AUCTION FOR A TOTAL CASH CONSIDERATION OF RM60,000,000.00

COUNTRY HEIGHTS HOLDINGS BHD

Type Announcement
Subject OTHERS
Description 
ACQUISITION OF THE HERITAGE TOWERS @ THE MINES WELLNESS CITY BY COUNTRY HEIGHTS SEA RESORT SDN BHD, A WHOLLYOWNED SUBSIDIARY OF COUNTRY HEIGHTS HOLDING BERHAD THROUGH PUBLIC AUCTION FOR A TOTAL CASH CONSIDERATION OF RM60,000,000.00

Reference is made to the Company's announcement dated 16 December 2021.

 

The Board of Directors of Country Heights Holdings Berhad (“CHBB” or the “Company”) wishes to announce that its wholly-owned subsidiary, Country Heights Sea Resort Sdn Bhd (“CHSRSB") is not proceeding with the completion of the auction and is seeking for a refund of the deposit of RM6,000,000.00 as the condition of the building is significantly different from the time CHSRSB first sighted the building earlier.  


CHSRSB will not be paying the balance consideration of RM54,000,000.00 within 120 days from the Memorandum of Contract entered on 9 December 2021 for the acquisition of the property held under HSD 316624, Lot PT 1258 (Formerly known as HSD 242005, PT 719and HSD 185535, PT 384), mukim Pekan Baru Sungai Besi, Petaling, Selangor Darul Ehsan bearing postal address The Heritage Tower @ Mines Wellness City, Jalan SB Dagang, Mines Resort City, 43300 Seri Kembangan, Selangor Darul Ehsan (the “Property”). 

 

 

 

This announcement is dated 8 April 2022.



Announcement Info

Company Name COUNTRY HEIGHTS HOLDINGS BHD
Stock Name CHHB
Date Announced 08 Apr 2022
Category General Announcement for PLC
Reference Number GA1-05042022-00092


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