Puncak Niaga Holdings Bhd. · MYX:PUNCAK
Puncak Niaga Holdings Bhd — Shareholder Meeting (February 2024)
8 slides from Puncak Niaga Holdings Bhd's shareholder meeting presentation, Feb 7, 2024
Slide 1: Extraordinary General Meeting: Proposed Disposal of Lands
PUNCAK NIAGA HOLDINGS BERHAD Extraordinary General Meeting Proposed Disposal of Lands 7 February 2024
Slide 2: Details Of The Proposed Disposal Of Lands
Details Of The Proposed Disposal Of Lands On 17 August 2023, our Board announced that: i. Puncak Niaga Holdings Berhad (“Puncak”) had entered into the Conditional SPA 1 with Alpha Galaxy Sdn Bhd (“AGSB”) for the proposed disposal of Lot 7093 for a cash consideration of approximately RM98.63 million;
Slide 3: Details Of The Proposed Disposal Of Lands (cont’d)
Details Of The Proposed Disposal Of Lands (cont’d) The Lands comprise three (3) parcels of adjoining leasehold land LATAR located within the locality of Bandar Puncak Alam, Selangor Darul Ehsan measuring 672,089 square meter (approximately 166 Alam Perdana acres). Generally, the Lands are flat in ph
Slide 4: Rationale and Benefit for the Proposed Disposal of Lands
Rationale and Benefit for the Proposed Disposal of Lands Unlock the value Puncak Group can capitalize on the growth of the property of the investment market in Puncak Alam and unlock the value of the Lands properties at an attractive price. It allows the Group to raise a net proceeds of Generate cas
Slide 5: Disposal Consideration
Disposal Consideration The total Disposal Consideration of RM306.07 million is calculated based on RM43.00 per square foot (save and except for the RM20.00 per square foot for the Buffer Zone) was arrived at on a willing-buyer willing-seller and on an as is where is basis, after consideration the fo
Slide 6: Disposal Consideration (cont’d)
Disposal Consideration (cont’d) The Disposal Consideration represents a discount of approximately 6% or RM19.4 million to the market value of the Lands as at 11 September 2023. The Board is of the opinion that the discount is justifiable after taking into consideration the following factors: i. the
Slide 7: Estimate Time Frame For Completion of The Proposed Disposal of Lands
Estimate Time Frame For Completion of The Proposed Disposal of Lands 1. Execution of Conditional SPAs 5. First Payment Sum of 7. Third Payment Sum - Received the RM61.2 million of RM61.2 million Earnest Deposit & Balance Deposit 1 3. EGM 6. Second Payment Sum 8. Final Payment Sum of RM30.6 million o
Slide 8: Thank You
Thank You 8
Puncak Niaga Holdings Berhad — Shareholder Meeting (February 2024) on 6ix