MAG

0.190

(%)

Proposed acquisition by North Cube Sdn. Bhd., a wholly-owned subsidiary of MAG Holdings Berhad from Ms. Chong Kah Nyuk @ Lilian of the a farm land provisionally known as Country Lease 1055773840, Mile 15, Apas Road, Tawau, Sabah (“Farm Land”) at a purchase consideration of RM7,000,000.00 (“Proposed Acquisition”)

MAG HOLDINGS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-19032025-00002
Subject Proposed acquisition by North Cube Sdn. Bhd., a wholly-owned subsidiary of MAG Holdings Berhad from Ms. Chong Kah Nyuk @ Lilian of the a farm land provisionally known as Country Lease 1055773840, Mile 15, Apas Road, Tawau, Sabah (“Farm Land”) at a purchase consideration of RM7,000,000.00 (“Proposed Acquisition”)
Description 
MAG HOLDINGS BERHAD (MAG OR THE COMPANY)
SALE AND PURCHASE AGREEMENT BETWEEN NORTH CUBE SDN. BHD. AND CHONG KAH NYUK @ LILIAN
Query Letter Contents

We refer to your Company’s announcement dated 14 March 2025, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1.

Breakdown of the sources of funding for the Proposed Acquisition between bank borrowing and internally generated fund.

2.

a) The basis of arriving at the total purchase consideration, other than on a “willing buyer willing seller” basis; and

(b) the justification for the purchase consideration.

3.

The terms of tenure of the Farm Land and if leasehold, the expiry date of the lease.

4.

Whether any valuation was carried out on the Farm Land; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value.

5.

The existing and proposed use of the Farm Land.

6.

The estimated time frame to complete the Proposed Acquisition.

7.

To state the prospect of the Farm Land

8.

To state the amount transacted with Mr. Melvin Lim Chin Woei in the past 12 months.

9.

To define “effective date” in line 2, para 2 of Section 3.1.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

Listing

Regulation

 

copy : Market Surveillance Dept., Securities Commission

(The abbreviations used herein are consistent with those stated in the announcement dated 14 March 2025 (Announcement) unless defined otherwise.)

 

Reference is made to the Announcement pertaining to the SPA between NCSB and Ms. Chong Kah Nyuk @ Lilian.

 

The Board wishes to announce the following additional information.

Please refer to the attachment for additional information.

This announcement is dated 20 March 2025.

Please refer attachment below.

Attachments

MAG - Additional Information (SPA).pdf
67.9 kB


Announcement Info

Company Name MAG HOLDINGS BERHAD
Stock Name MAG
Date Announced 20 Mar 2025
Category General Announcement for PLC
Reference Number GA1-20032025-00081


View original announcement