TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS BOX-PAK (MALAYSIA) BERHAD ("BOX-PAK" OR THE "COMPANY") PROPOSED SUBLEASE BY BOX-PAK (VIETNAM) CO., LTD ("BPV"), A WHOLLY-OWNED SUBSIDIARY OF BOX-PAK, THROUGH A PROJECT COMPANY TO BE INCORPORATED AS A WHOLLY-OWNED SUBSIDIARY OF BPV, OF A PARCEL OF LEASEHOLD VACANT INDUSTRIAL LAND LOCATED IN LAND LOT I-9, D5 & N5 STREETS, HUU THANH INDUSTRIAL ZONE, DUC HOA DISTRICT, LONG AN PROVINCE, VIETNAM ("SUBJECT PROPERTY") ("PROPOSED SUBLEASE")
| BOX-PAK (MALAYSIA) BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | BOX-PAK (MALAYSIA) BERHAD ("BOX-PAK" OR THE "COMPANY")
PROPOSED SUBLEASE BY BOX-PAK (VIETNAM) CO., LTD ("BPV"), A WHOLLY-OWNED SUBSIDIARY OF BOX-PAK, THROUGH A PROJECT COMPANY TO BE INCORPORATED AS A WHOLLY-OWNED SUBSIDIARY OF BPV, OF A PARCEL OF LEASEHOLD VACANT INDUSTRIAL LAND LOCATED IN LAND LOT I-9, D5 & N5 STREETS, HUU THANH INDUSTRIAL ZONE, DUC HOA DISTRICT, LONG AN PROVINCE, VIETNAM ("SUBJECT PROPERTY") ("PROPOSED SUBLEASE") |
|
On behalf of the Board of Directors of Box-Pak, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that BPV, a wholly-owned subsidiary of Box-Pak, had on 27 March 2024, entered into a conditional in-principle land sublease agreement (“In-Principle Land Sublease Agreement”) with IDICO Corporation – Joint Stock Company for the sublease of the Subject Property, measuring approximately 50,000 square metres for a period of approximately 45 years up to 6 August 2069, for a sublease consideration (which is stipulated as “lump sum infrastructure using fee” therein in the In-Principle Land Sublease Agreement) of Vietnamese Dong 179,524,000,000 (exclusive of value added tax), equivalent to approximately RM34,286,478.
Further details of the Proposed Sublease are set out in the attachment enclosed.
This announcement is dated 27 March 2024. |
|
Please refer attachment below.
Announcement Info
| Company Name | BOX-PAK (MALAYSIA) BERHAD |
| Stock Name | BOXPAK |
| Date Announced | 27 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27032024-00071 |