BENALEC HOLDINGS BERHAD Announcement.

We wish to announce that Heritage Land Sdn Bhd (“HLSB”), Klebang Property Sdn Bhd (“KPSB”) and Heritage Land Development Sdn Bhd (“HLDSB”), all of which are wholly-owned subsidiaries of Benalec Sdn Bhd, which in turn is wholly-owned by Benalec Holdings Berhad, had on 26th January 2018, received three (3) Letters of Offers from Million Rich Development Sdn Bhd, a wholly-owned subsidiary of Spring Gallery Berhad, to purchase twelve (12) plots of land owned by HLSB, KPSB and HLDSB, located in Pekan Klebang Seksyen II, Daerah Melaka Tengah, Melaka (“Offer”).

After evaluating the said Offer, the Management is of the view that the Offer is not in the best interest of the Company and therefore have decided not to accept the said Offer vide a reply letter dated 6 February 2018.

This announcement is dated 7 February 2018.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5685773

We refer to our announcement made on 26 January 2018 in relation to the Letter(s) of Offer (“Announcement”), unless otherwise defined, the definitions set out in the Announcement shall apply herein.

Further to the Announcement, the Board wishes to provide the following additional information:-

i) No valuation was carried out on the Lands by an independent valuer. However, internal assessment and market survey were carried out on the market values of the vacant land adjacent to the Lands based on the reference from www.brickz.my.
As disclosed in item 4 of the Announcement, the Purchase Price of the Lands was arrived at on a willing-buyer willing-seller basis after taking into consideration the preliminary aggregate open market value of RM42 per square feet within the vicinity.

ii) The Letters of Offer are legally binding upon acceptance by the Offerees. As disclosed in item 11 of the Announcement, the Company will make the necessary announcement in the event that the Letters of Offer’s terms are accepted and/or extended.

iii) All the three Letters of Offer issued in respect of the Lands are inter-conditional.

This announcement is dated 2 February 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5682873

SPRING GALLERY BERHAD Company Announcements.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5681081

We refer to our announcement made on 26 January 2018 in relation to the LOI (“Announcement”), unless otherwise defined, the definitions set out in the Announcement shall apply herein.


The Company wishes to clarify on the news articles published on 26 January 2018 in Nikkei - Asian Review, The Edge Markets, Reuters.com and others. As announced, MRDSB, a wholly-owned subsidiary of SGB, has received the LOI from VRS on the proposed development and operation of a theme park. Notwithstanding that the total aggregate land size proposed by MRDSB to VRS fulfills the requirements of VRS and is a potential site for the proposed development and operation of a theme park, the Proposed Development is still subject to further detailed studies by VRS’s recognised feasibility consultants to be appointed by MRDSB.


As mentioned in item 3 of the Announcement, VRS will continue to perform further due diligence on the Proposed Development.


At this juncture, MRDSB has not gained the automatic rights for the Proposed Development.


This announcement is dated 30 January 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5677973