Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

The Board of Directors of the Company wishes to announce that SkyWorld Development (Vietnam) Company Limited (“SkyWorld Vietnam”), a wholly-owned subsidiary of SkyWorld Development Berhad has on 7 September 2023, entered into a conditional shares sale and purchase agreement (“SPA”) with (i) Mr. Nguyen Son Hai Long; (ii) Ms. Nguyen Thuy Thoai Phuong; and (iii) Ms. Nguyen Thuy Diem Phuong (the individuals are collectively referred to as the “Vendors”); and (iv) Thuan Thanh Trading Production and Real Estate Trading Joint Stock Company (“Project Company”) for the acquisition of the entire fully paid-up 1,700,000 ordinary shares of VND100,000 each in the share capital of the Project Company for a total cash consideration of VND350,000,000,000 (equivalent to approximately RM67,900,000) only subject to the terms and conditions stated in the SPA (the “Proposed Acquisition”).

The Project Company is the sole and lawful user of a parcel of land located at Ward 16, District 8, Ho Chi Minh City, Vietnam and simultaneously, the Vendors are in the midst of procuring the transfer of land use rights for another 2 adjourning lands owned by several individuals to the Project Company (collectively referred to as the “Project Land”). Upon completion of the Proposed Acquisition, SkyWorld Vietnam will have the lawful land use rights over the entire Project Land through the ownership of the Project Company.

The Project Company is currently carrying out relevant legal procedures to register and implement a project comprising 24-storey apartment building on the Project Land.

Details of the Proposed Acquisition are set out in the attachment below.

This announcement is dated 7 September 2023.

Please refer attachment below.

Announcement Info

Attachments

1. SkyWorld_Acquisition_of_Land_07.09.2023.pdf (Size: 894,145 bytes)