The Board of Directors
of L&G wishes to announce that Synergy Score Sdn Bhd
(“SSSB”), a wholly-owned subsidiary of the Company
has on 3 November 2009 entered into a Joint Venture
cum Shareholders’ Agreement with Forward Splendour
Sdn Bhd (“FSSB”) to govern a joint venture company,
Elite Forward Sdn Bhd (“EFSB”), and together to
participate in the development of the Land (as
defined below).
On the same date, EFSB has entered into a
conditional Sale and Purchase Agreement (“SPA”) with
Sazean Holdings Sdn Bhd (“Sazean”or the “Vendor”)
for the proposed acquisition of freehold land held
under Issue Document of Title No. Lot 274, Jenis
Hakmilik: GM 105, Mukim Ampang, Daerah Kuala Lumpur
(“the Land”) measuring approximately 10,546.774
square meters free from all encumbrances and with
vacant possession, for a total cash consideration of
RM55.0 million.
Further details of the Proposed Joint Venture and
Proposed Land Acquisition are set out in the
attachment below.
Announcement
Attachment.pdf