General Announcement for PLC

08/10/2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS DISPOSAL OF ALL THAT PARCEL OF LEASEHOLD INDUSTRIAL LAND TOGETHER WITH A SINGLE STOREY WOOD BASED/FURNITURE INDUSTRIAL FACTORY ("THE PROPERTY") BY FEDERAL FURNITURE (1982) SDN BHD ("FF82" OR "THE SELLER/VENDOR"), A WHOLLY OWNED SUBSIDIARY OF FEDERAL INTERNATIONAL HOLDINGS BERHAD ("FIHB") TO FILTERMATION (MFG) SDN BHD ("THE PURCHASER").

FEDERAL INTERNATIONAL HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
DISPOSAL OF ALL THAT PARCEL OF LEASEHOLD INDUSTRIAL LAND TOGETHER WITH A SINGLE STOREY WOOD BASED/FURNITURE INDUSTRIAL FACTORY ("THE PROPERTY") BY FEDERAL FURNITURE (1982) SDN BHD ("FF82" OR "THE SELLER/VENDOR"), A WHOLLY OWNED SUBSIDIARY OF FEDERAL INTERNATIONAL HOLDINGS BERHAD ("FIHB") TO FILTERMATION (MFG) SDN BHD ("THE PURCHASER").

Unless otherwise defined, the definitions and terms used in this announcement shall have the same meaning as those defined in the Company’s announcement dated 5 October 2021 (“Announcement”).

 

We refer to the Company’s announcement dated 5 October 2021 and hereby provide additional information as follows.

  1. The valuation of the land and factory as appraised by Messrs. Mohd Nor & Partners (KL) Sdn Bhd (“MNP”) is made on the basis of its Market Value. In order to arrive at the Market Value, MNP have adopted the Comparison Approach of Valuation. In addition, MNP have also adopted the Contractor’s Test Method to support their valuation.
  2. The Company will make follow up announcement upon finalisation of utilisation of the proceeds.

 

This announcement is dated 8 October 2021.



Announcement Info

Company Name FEDERAL INTERNATIONAL HOLDINGS BERHAD
Stock Name FIHB
Date Announced 08 Oct 2021
Category General Announcement for PLC
Reference Number GA1-08102021-00051


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