- ESTABLISHMENT OF A JOINT VENTURE WITH GREENLAND MALAYSIA REAL ESTATE OPERATOR SDN BHD (“JOINT VENTURE”)
- DISPOSAL OF THREE (3) PIECES OF LAND MEASURING IN AGGREGATE APPROXIMATELY 127.92 ACRES HELD BY TEBRAU BAY SDN BHD (“TBSB”), A WHOLLY OWNED SUBSIDIARY OF IWCITY, LOCATED IN MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR, TO GREENLAND TEBRAU SDN BHD (“GTSB”) FOR A CASH CONSIDERATION OF RM2,373,079,016 (“DISPOSAL CONSIDERATION”) (“LAND DISPOSAL”)
(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.)
Reference is made to the announcements dated 3 April 2015, 21 April 2015, 6 May 2015, 13 July 2015, 21 August 2015, 7 October 2015, 30 November 2015, 3 February 2016, 18 February 2016, 14 April 2016, 3 June 2016, 3 August 2016, 6 September 2016, 7 October 2016, 17 January 2017 and 6 March 2017 (“Announcements”).
On behalf of the Board of Directors of IWCity, AmInvestment Bank Berhad wishes to announce that the TBSB had entered into a supplemental agreement with Greenland Tebrau in relation to the Land Disposal (“Supplemental Agreement”) to vary, modify, supplement and amend certain terms and conditions of the Disposal SPA (“Amendments”).
Please refer to the attached announcement for further details.
This announcement is dated 5 May 2017.