Puncak Niaga Holdings Bhd. · MYX:PUNCAK

Puncak Niaga Holdings Bhd — Shareholder Meeting (February 2024)

10 slides from Puncak Niaga Holdings Bhd's shareholder meeting presentation, Feb 7, 2024

  1. Slide 1: Extraordinary General Meeting: Reply to Minority Shareholders Watch Group

    PUNCAK NIAGA HOLDINGS BERHAD Extraordinary General Meeting 7 February 2024 Reply to Minority Shareholders Watch Group

  2. Slide 2: Operational & Financial Matters: Question 1

    (Capitalised terms used herein shall have the same meanings as those defined in the Circular dated 22 Jan 2024 in relation to the Proposed Disposal of Lands) Operational & Financial Matters Question 1: The Group did not open tender for the disposal of the Lands as there was no certainty that the bid

  3. Slide 3: Question 1 (Continued)

    Question 1 (Continued) Answer: (a) Puncak had approached several potential reputable property development companies to offer for the Lands and only five (5) companies had indicated their interest and made their offers. The highest offer previously received was RM35.00 per square foot with a payment

  4. Slide 4: Question 2

    Question 2: The Disposal Consideration of RM306.07 million represents a discount of approximately 6% or approximately RM19.40 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 that the Group

  5. Slide 5: Question 2 (Continued)

    Question 2 (Continued) Answer: The Proposed Disposal of Lands were negotiated in good faith by both parties under the guidance of Shariah principles. There is no compensation clause (i.e., forfeit of deposit) that allows the Group to claim from the Purchaser in the event of default by the Purchaser.

  6. Slide 6: Question 2 (Continued)

    Question 2 (Continued) Answer (Continued): If the Purchaser has constructed buildings on the Vendor’s portion of Lands, the constructed buildings will be transferred to the Vendor at the prevailing market value at the material time subject to the Vendor’s agreement and acceptance. b. The second cons

  7. Slide 7: Question 3

    Question 3: There is no specific timeline for the Purchaser to provide the Bank Guarantee(s) to the Vendor and no specific number of Bank Guarantee(s) to be obtained by the Purchaser to secure the Balance Disposal Price amounting to 80% of the Disposal Consideration. (Page 14 of Circular dated 22 Ja

  8. Slide 8: Question 3 (Continued)

    Question 3 (Continued) Answer: The Proposed Disposal of Lands were negotiated on an arm’s length basis for the best interest of the Company. Under the Conditional SPAs, the Purchaser does not require to provide the Bank Guarantee, provided the Purchaser satisfy the Balance Disposal Price in accordan

  9. Slide 9: Question 4

    Question 4: As at 5 January 2024, the Vendor’s solicitors have not received the remainder of the Balance Deposit 2 (Page 8 of Circular dated 22 January 2024). Have the Balance Deposit 2 of RM30,606,574.90 paid by the Purchaser? Answer: Yes, the Vendor’s solicitors had received the Balance Deposit 2,

  10. Slide 10: Thank You

    THANK YOU 10

Puncak Niaga Holdings Berhad — Shareholder Meeting (February 2024) on 6ix