General Announcement for PLC

30/11/2015

OTHERS EXTENTION OF TIME FOR FULFILLMENT OF CONDITIONS PRECEDENT IN RELATION TO THE JOINT VENTURE AGREEMENT FOR A MIXED DEVELOPMENT PROJECT ON A PARCEL OF LAND IN BANDAR KUANTAN, KUANTAN PAHANG

O&C RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description 
EXTENTION OF TIME FOR FULFILLMENT OF CONDITIONS PRECEDENT IN RELATION TO THE JOINT VENTURE AGREEMENT FOR A MIXED DEVELOPMENT PROJECT ON A PARCEL OF LAND IN BANDAR KUANTAN, KUANTAN PAHANG

Reference is made to the announcements of the Company made on 1 June 2015 and 3 June 2015 in relation to the Joint Venture Agreement ("JVA") for a mixed development project on a piece of land held under H.S.(D) 19049, No. PT 57721, Bandar Kuantan, Kuantan, Pahang (the "Announcements").

Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcements.

The Board of Directors of O&C Resources Berhad (formerly known as Takaso Resources Berhad) wishes to inform that its 70% owned subsidiary,Takaso Development (Kuantan) Sdn. Bhd., has at the request from SSPP Development Sdn. Bhd. ("SSPP") vide SSPP's letter dated 20 November 2015 agreed to an extension of time of six (6) months expiring 31 May 2016 for SSPP to obtain approval from the relevant authorities to convert the said land to Non-Malay Reserved Land.

Other terms and conditions of the JVA remain unchanged.

This announcement is dated 30 November 2015.

 



Announcement Info

Company Name O&C RESOURCES BERHAD
Stock Name OCR
Date Announced 30 Nov 2015
Category General Announcement for PLC
Reference Number GA1-27112015-00055


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