Bursa
Announcements

Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

BackMar 13, 2023
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description

ABLE GLOBAL BERHAD ("AGB" OR "THE COMPANY")

PROPOSED DISPOSAL OF A PARCEL OF LAND MEASURING APPROXIMATELY 23.538 ACRES ("LAND") BY ABLE DEVELOPMENT SDN BHD ("ADSB"), A 70%-OWNED SUBSIDIARY OF AGB, FOR A TOTAL CASH CONSIDERATION OF RM18,455,675.04 ("DISPOSAL CONSIDERATION") ("PROPOSED DISPOSAL")

Reference is made to the announcement dated 09 March 2023 in relation to the Disposal of a Parcel of Land measuring approximately 23.538 acres ("Land") by Able Development Sdn Bhd ("ADSB"). The Board of Directors of the Company wishes to furnish the following additional information :-

 

5. UTILISATION OF SALE PROCEEDS

Description

    In RM million

 Estimated Utilisation Time     Frame

Property development expenditure upon completion of the acquisition of the Master Land and other working capital

                     10.0

          Within 24 months

Professional fees and expenditure related to the acquisition of the Master Land

                       1.0

          Within 12 months

Borrowing interest servicing

                       7.5

          Within 24 months

Total

                      18.5

 

 

This announcement is dated 13 March 2023

Announcement Info

Company Name ABLE GLOBAL BERHAD
Stock Name ABLEGLOB
Date Announced 13 Mar 2023
Category General Announcement for PLC
Reference Number GA1-13032023-00025