Bursa Announcements
Teladan Setia Group Berhad ("TSGB" Or "THE COMPANY") - Proposed Acquisition Of Land By Pavilion Link Sdn. Bhd. (PAVILION LINK), A Wholly-Owned Subsidiary Of The Company (PROPOSED ACQUISITION OF LAND)
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-08032023-00001 |
| Subject |
TELADAN SETIA GROUP BERHAD ("TSGB" OR "THE COMPANY") - PROPOSED ACQUISITION OF LAND BY PAVILION LINK SDN. BHD. (PAVILION LINK), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY (PROPOSED ACQUISITION OF LAND) |
| Description |
TELADAN SETIA GROUP BERHAD ("the Company") REPLY TO BURSA MALAYSIA QUERIES DATED 8 MARCH 2023 - PROPOSED ACQUISITION OF LAND BY PAVILION LINK SDN. BHD. ("PLSB"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED ACQUISITION OF LAND") |
| Query Letter Contents |
We refer to your Company’s announcement dated 7 March 2023, in respect of the aforesaid matter. 1) The encumbrances on the Land, or a negative statement. 2) The breakdown of the sources of funding. 3) Whether the Proposed Acquisition of Land is subject to approval from any relevant government authorities, together with the estimated time frame for submission of the application to such authorities. 4) Date of payment of the Earnest Deposit for the Proposed Acquisition of Land. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully, Listing Division, Regulation Cc : Market Surveillance Dept. , Securities Commission (via fax) |
We refer to the query letter received from Bursa Malaysia Securities Berhad (“Bursa Securities”) on 8 March 2023 under the reference no. IQL-08032023-00001 on the Proposed Acquisition of Land by Pavilion Link Sdn. Bhd. (“PLSB”), a wholly-owned subsidiary of Teladan Setia Group Berhad (“the Company”).
The Company wishes to further informed that:-
- The Land is free from any encumbrances.
- As at 9 March 2023, being the date of this announcement, the Company has yet to finalise its sources of funding for the Proposed Acquisition of Land, pending its consideration/review of the financing facilities offered by the financial institutions. Therefore, the Company is unable to provide the exact weightage of the sources of fundings at the juncture, although the Company envisaged that bank borrowings would most probably account for between 70% to 80% while the remaining balance would be financed by the Company’s internally generated funds.
- The Proposed Acquisition of Land is neither subject to approval by any government authorities nor have any restriction in interest.
- Date of payment of the Earnest Deposit was 13 January 2023.
This announcement is dated 9 March 2023.
Announcement Info
| Company Name | TELADAN SETIA GROUP BERHAD |
| Stock Name | TELADAN |
| Date Announced | 09 Mar 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09032023-00028 |