General Announcement for PLC

21/10/2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS XIN HWA HOLDINGS BERHAD ("XHH" OR THE "COMPANY") DISPOSAL BY XIN HWA TRADING & TRANSPORT SDN BHD ("XHTT" OR THE "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF XHH OF THE SUBJECT PROPERTIES (AS DEFINED HEREIN) TO RHB TRUSTEES BERHAD ACTING AS THE TRUSTEE FOR AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") ("RHB TRUSTEES" OR THE "PURCHASER"), FOR A TOTAL DISPOSAL CONSIDERATION OF RM75,000,000 TO BE SATISFIED ENTIRELY IN CASH, AND THE SUBSEQUENT LEASEBACK OF THE SUBJECT PROPERTIES BY XHTT

XIN HWA HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
XIN HWA HOLDINGS BERHAD ("XHH" OR THE "COMPANY")

DISPOSAL BY XIN HWA TRADING & TRANSPORT SDN BHD ("XHTT" OR THE "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF XHH OF THE SUBJECT PROPERTIES (AS DEFINED HEREIN) TO RHB TRUSTEES BERHAD ACTING AS THE TRUSTEE FOR AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") ("RHB TRUSTEES" OR THE "PURCHASER"), FOR A TOTAL DISPOSAL CONSIDERATION OF RM75,000,000 TO BE SATISFIED ENTIRELY IN CASH, AND THE SUBSEQUENT LEASEBACK OF THE SUBJECT PROPERTIES BY XHTT

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcement in relation to the above-captioned matter.

We refer to the announcement made on 15 March 2021.

On behalf of the Board, UOBKH wishes to announce that the conditions precedent under the SPA have been fulfilled or waived in accordance with the SPA, and with the receipt of the balance disposal consideration, the Disposal was deemed completed on 21 October 2021.

 

This announcement is dated 21 October 2021.



Announcement Info

Company Name XIN HWA HOLDINGS BERHAD
Stock Name XINHWA
Date Announced 21 Oct 2021
Category General Announcement for PLC
Reference Number GA1-20102021-00112


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