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.
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。
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”)。
For further information, kindly download the full announcement(s) as per link(s) below.