Entry into Sub-Development Agreement / 簽訂子開發合同
The Board of Directors of Regal International Group Ltd. (“Company”, and together with its subsidiaries, “Group”) refers to the circular issued by the Company dated 24 September 2014 relating to, amongst others, the proposed acquisition of the entire issued share capital of Regal International Holdings Pte. Ltd. (“Circular”). Capitalised terms not defined herein shall have the same meanings as ascribed to them in the Circular.
In Section B6.7 of the Circular titled “Joint Development Process”, the background description and rational for the usage of Development Rights Arrangements had been set out. In addition, it was stated in Section B6.7 of the Circular that moving forward, the Company will make an announcement of every Development Rights Agreement that is entered into and such announcement will contain the salient terms of the respective Development Rights Agreement.
The Company wishes to announce that Kenyalang Avenue Sdn. Bhd. (“Kenyalang”), a subsidiary of the Company, has entered into a Sub-development Agreement (“SDA”) on 27 April 2018 with Tiara Realty Sdn. Bhd. (“Developer”) to develop, build and sell the properties on Lot 322 Bukar-Sadong Land District and Lot 522, 523, 524, 525, 542, 916 and 918 all of Block 1 Bukar-Sadong Land District (“Lands”).
The SDA is a conditional agreement wholly contingent on the Developer to secure all the necessary approvals from the regulatory authorities by the Developer. In connection with the SDA, an irrevocable deed of substitution of the power of attorney has been granted by the Developer of the Land to empower Kenyalang to exercise such rights of land owners as are necessary for the development of the Lands, including the right to make all necessary applications to the relevant authorities for the various approvals required to develop the Land. The considerations to the Developer and land owners under the SDA are in form of a combination of payment of cash and provision of sub-divided units upon completion of the project.
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Regal International Group Ltd. (簡稱“公司”及旗下所有子公司統稱“集團”) 的董事會茲提述公司於2014年9月24日寄發予股東們之股東通函 (簡稱“通函”)，其中有關Regal International Holdings Pte. Ltd.所有繳足之已發行股本進行全面收購提案。除另有界定或文義另有所指外，本公告所用詞彙具有相同涵義賦予其通函。
於通函第B6.7節題為“共同開發流程”中曾列示，開發權商定的背景説明和合理的運用方式。此外，通函第B6.7節亦表明在接下來的日子裏，本公司將會就其簽訂的每項開發權合約作出公告，該公告内容將含各開發權合約之主要條款。
本公司僅此宣佈其全資子公司Kenyalang Avenue Sdn. Bhd. (簡稱“Kenyalang”)已於2018年4月27日與Tiara Realty Sdn. Bhd. (簡稱“開發商”) 就位於馬來西亞砂嶗越，Lot 322 Bukar-Sadong Land District 及 Lot 522, 523, 524, 525, 542, 916 及 918中所有 Block 1 Bukar-Sadong Land District之土地 (簡稱“所述土地”) 的物業開發、建築與銷售權簽訂了子開發合同 (簡稱“SDA”)。
該SDA全權取決於開發商是否能成功向有關政府及監管機構取獲所需的所有批准、授權與許可證。依據SDA，土地開發商已將不可撤銷之替代授權書委予Kenyalang，爲開發所述土地之故，授權Kenyalang與地主相等之權利，包括向相關機構提出開發所述土地必要之核准申請。開發商與所述土地之地主的對價，按照SDA之條款，將在项目完成时以现金及提供分割单位的组合支付。
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For further information, kindly download the full announcement(s) as per link(s) below.
欲獲悉更多訊息，請點擊下列鏈接下載完整的公告。