The Board of Directors wishes to announce that its wholly-owned subsidiary, GSB Summit Development Sdn Bhd had entered into a Termination and Settlement Agreement with Projects Start Sdn Bhd on 8 March 2016 to mutually terminate the Joint Venture Agreement dated 29 June 2011 for a cash settlement sum of Ringgit Malaysia Two Million Seven Hundred Nine Thousand Nine Hundred Eighty One and Cents Fifty Four only (RM2,709,981.54).
It need time....so far the 2 bentong project progress on track...but still a few unit shop unsold. The 7 storey boutique hotel should be under GSB if not mistaken.
On behalf of the Board of Directors of GSB, Hong Leong Investment Bank Berhad wishes to announce that BISB had on 15 July 2016, entered into a supplementary sale and purchase agreement with RASB to amend and vary certain terms and conditions of the SPA in respect of the Proposed Acquisition, in consideration of a total of RM499,050 only (“Indulgence Sum”) to be paid by BISB to RASB, between the period of August 2016 and July 2017 (“Supplementary Agreement”).
Please refer to the attachment for the key terms of the SPA which are amended by the Supplementary Agreement.
In addition, BISB and RASB has also on 15 July 2016 entered into a Further Supplemental Termination and Settlement Agreement (“Further Supplemental Settlement Agreement”) to amend and vary certain terms and conditions of the Settlement Agreement (as supplemented by the Supplemental Settlement Agreement). Please refer to the attachment for the key terms of the Settlement Agreement (as supplemented by the Supplemental Settlement Agreement) which are amended by the Further Supplemental Settlement Agreement.
All other salient terms and conditions of the SPA and the Settlement Agreement (as supplemented by the Supplemental Settlement Agreement) remain unchanged and shall remain valid and in full force and effect.
Copies of the Supplementary Agreement and Further Supplemental Settlement Agreement are available for inspection at the registered office of the Company at Level 8, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia, during normal business hours from Mondays to Fridays (except for public holidays) for a period of three (3) months from the date of this announcement.
Their shop lot construction in bentong is on good track... some more on 30 aug they just launch 71 unit of cluster type double terrace house in bentong despite properties slowdown namely springhill residents.
Closing on 31/3/17 at RM 0.97 - Price surge from 80 sen (10/3/17 ) to 97 sen (31/3/17). Target price min. RM 1.50 before July 17 due to better quarter earnings expected for Bangsar South project development.
Closing on 31/3/17 at RM 0.10 – Historical price between 0.09 to 0.10 sen for the past 30 days.
Private placement at 10 sen at Dec 2015 : 16.67% to Javawana Sdn Bhd, which is a Special Purpose Vehicle controlled by Datuk Tee Eng Ho’s wife, Datin Toh Siew Chuon, Tee Eng Tiong & Tee Eng Han (the latter two are brothers to Datuk Tee).
It should be noted that Datuk Tee Eng Ho, Tee Eng Seng and Datin Toh Siew Chuon are the majority shareholders of Kerjaya Prospek Group Berhad (Stock code: 7161- RTO at RM 0.50 and now trading at RM 2.62)
There are talks in the market that GSB may be Datuk Tee’s Group designated property arm.
Currently their properties comprise of The Shore- Melaka, The Shore 2-Klang Valley, Jasin development, Klang Valley projects, etc.
The shares of Kerjaya Prospek (Fututec) is already on the list of the elite Billion Club Construction company stock. This gives rise to the question whether GSB is already on its way to be on that list within 2-3 years under Datuk Tee’s control and flagship???
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Posted by stockquote > 2016-03-14 15:01 | Report Abuse
everything looks quite here...