General Announcement

14/02/2001

PROPOSED ACQUISITION OF INDUSTRIAL LAND

HWA TAI INDUSTRIES BERHAD

TypeAnnouncement
SubjectPROPOSED ACQUISITION OF INDUSTRIAL LAND

Contents :

Further to our announcement on 15 November 2000 in respect of the above subject, Hwa Tai Industries Berhad ("Hwa Tai") is pleased to announce that the Foreign Investment Committee ("FIC") has given its approval on 27 January 2001 to Hwa Tai's 60% owned subsidiary, Acetai Corporation Sdn Bhd ("Acetai"), for the proposed acquisition of a piece of industrial land held under H.S. (M) 13714, No. P.T. 3476, Mukim Petaling , Tempat Seri Kembangan, Negeri Selangor Darul Ehsan measuring approximately 1.6372 hectares from Perkuat Kuari Sdn Bhd for a total cash consideration of RM5,286,780/-.


The FIC approval is subject to the following conditions:-

  1. Acetai is required to increase its Bumiputera equity to at least 30% before 31 December 2001; and
  2. The industrial land shall be used for manufacturing purpose only.


Announcement Info

Company NameHWA TAI INDUSTRIES BERHAD  
Stock Name HWATAI
Date Announced14 Feb 2001  
CategoryGeneral Announcement
Reference NoHT-010214-35105

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