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(1) PROPOSED ACQUISITION OF THE PARCEL OF LEASEHOLD LAND KNOWN AS LOT NO. 777 BLOCK 5, MUARA TEBAS LAND DISTRICT, SEJINGKAT , KUCHING MEASURING APPROXIMATELY 27.6 HECTARES FROM A SUBSIDIARY OF CAHYA MATA SARAWAK BERHAD ("CMSB") ("PROPOSED ACQUISITION"); AND(2) PROPOSED STRATEGIC ALLIANCE WITH CMSB ("PROPOSED STRATEGIC ALLIANCE")(COLLECTIVELY KNOWN AS "THE PROPOSALS")

BackOct 26, 2007
Type Announcement
Subject KKB ENGINEERING BERHAD ("KKB" or "THE COMPANY")

(1) PROPOSED ACQUISITION OF THE PARCEL OF LEASEHOLD LAND KNOWN AS LOT NO. 777 BLOCK 5, MUARA TEBAS LAND DISTRICT, SEJINGKAT , KUCHING MEASURING APPROXIMATELY 27.6 HECTARES FROM A SUBSIDIARY OF CAHYA MATA SARAWAK BERHAD ("CMSB") ("PROPOSED ACQUISITION"); AND

(2) PROPOSED STRATEGIC ALLIANCE WITH CMSB ("PROPOSED STRATEGIC ALLIANCE")

(COLLECTIVELY KNOWN AS "THE PROPOSALS")

Contents :

The Board of Directors of KKB ("the Board") had on 30 July 2007 announced that KKB had entered into a Memorandum of Understanding ("MOU") on even date with CMSB with an intention to acquire the Land and Buildings (collectively referred to as "the Property") from a subsidiary of CMSB and a proposed strategic alliance between KKB and CMSB.


The Board wishes to announce that the Company is in the midst of finalising the details of the Proposals. As such, the Board wishes to announce that the Company and CMSB had mutually agreed to extend the MOU for a further period of three (3) months till 31 January 2008.

A more detailed announcement will be released upon signing of the definitive agreement(s).

This announcement is dated 26 October 2007.

 

Announcement Info

Company Name KKB ENGINEERING BERHAD  
Stock Name KKB    
Date Announced 26 Oct 2007  
Category General Announcement
Reference No CC-071025-33069