【CABNET 0191 交流专区】

icy97

Type	Announcement
Subject	OTHERS
Description	LETTER OF AWARD - AWARD OF CONTRACT BY ASTINAS CONSTRUCTION & DEVELOPMENT SDN BHD FOR THE SUPPLY, DELIVERY, INSTALLATION, TESTING AND COMMISSIONING OF THE EXTRA LOW VOLTAGE SYSTEM WORKS FOR THE PROPOSED CONSTRUCTION OF INDUSTRIAL BUILDINGS LOCATED AT FREE ZONE OF SENAI AIRPORT CITY, MUKIM SENAI, DISTRICT OF KULAI, JOHOR
The Board of Directors of Cabnet Holdings Berhad (“CHB” or “the Company”) is pleased to announce that the Company’s wholly-owned subsidiary, Cabnet Systems (M) Sdn Bhd (“CSM”) had on 25 November 2021 accepted a Letter of Award from Astinas Construction & Development Sdn. Bhd. (Registration No.: 199701004253 (419749-V)) (“Employer”) appointing CSM for the supply, delivery, installation, testing and commissioning of Extra Low Voltage System Works (“Contract Works”) for the proposed construction of industrial buildings located at free zone of Senai Airport City, Mukim Senai, District of Kulai, Johor at a contract sum of RM5,130,000.00. Full details of the announcement are as attached. This announcement is dated 25 November 2021. Please refer attachment below.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3212532

Attachments Acceptance letter of award_Astinas.pdf

icy97

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	Cabnet Holdings Berhad ("Cabnet" or the "Company")-        DISPOSAL BY CABNET SYSTEMS (M) SDN BHD OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER HS(D) 321575 PT 8843, PEKAN KINRARA, DISTRICT PETALING, STATE OF SELANGOR TOGETHER WITH A UNIT OF THREE STOREY SHOP LOT ERECTED THEREON FOR A TOTAL PURCHASE PRICE OF RM2,550,000-00.
The Board of Directors of Cabnet (“Board”) wishes to announce that on 25 September 2024, the Company's wholly owned subsidiary, Cabnet Systems (M) Sdn. Bhd. (“CSM”) (“the Vendor”) has entered into a Sale and Purchase Agreement (“SPA”) with Broadlink Marketing Sdn Bhd (“BMSB”) (“the Purchaser”) for the disposal of all that piece of freehold land held under HS(D) 321575 PT 8843, Pekan Kinrara, District Petaling, State of Selangor together with a unit of three storey shop lot erected thereon (“the Property”) at the purchase price of Ringgit Malaysia Two Million Five Hundred and Fifty Thousand (RM2,550,000-00) only subject to the terms and conditions set out in the SPA (“the Property Disposal”). Full details of the announcement are as attached. This announcement is dated 25 September 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3486035

Attachments CHB Announcement 25.09.2024.pdf

icy97

CABNET HOLDINGS BERHAD

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-27092024-00001
Subject	CABNET HOLDINGS BERHAD (CABNET OR THE COMPANY) - DISPOSAL BY CABNET SYSTEMS (M) SDN BHD (CSM) OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER HS(D) 321575 PT 8843, PEKAN KINRARA, DISTRICT PETALING, STATE OF SELANGOR TOGETHER WITH A UNIT OF THREE STOREY SHOP LOT ERECTED THEREON FOR A TOTAL PURCHASE PRICE OF RM2,550,000-00. (PROPERTY) (PROPERTY DISPOSAL)
Description	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)NON RELATED PARTY TRANSACTIONSCabnet Holdings Berhad ("Cabnet" or the "Company")-        DISPOSAL BY CABNET SYSTEMS (M) SDN BHD OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER HS(D) 321575 PT 8843, PEKAN KINRARA, DISTRICT PETALING, STATE OF SELANGOR TOGETHER WITH A UNIT OF THREE STOREY SHOP LOT ERECTED THEREON FOR A TOTAL PURCHASE PRICE OF RM2,550,000-00.
Query Letter Contents	We refer to your Company’s announcement dated 25 September 2024, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1) The postal address and the existing use of the Property. 2) The effect of the Property Disposal on the operations of the Group. 3) The date of the payment of the Deposit. 4) The terms of the payment of the Balance Purchase Price. 5) The quantification of the market value of the Property, as per the Valuation Report dated 4 September 2024. 6) The particulars of any liabilities, including contingent liabilities, in relation to the Property Disposal which remain with Cabnet/CSM, together with the details and justification for such arrangements, and any guarantees given by Cabnet/CSM to the purchaser.
Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the Announcement made on 25 September 2024. The Company wishes to furnish additional information in reply to Bursa Query dated 27 September 2024. 1) The postal address and the existing use of the Property. The Postal address of the Property is G-02, 1-02 and 2-02, Jalan Layang-Layang 5, Bandar Puchong Jaya, 47170 Puchong, Selangor Darul Ehsan. The Property was used by CSM to house it administrative office and used as a branch office. 2) The effect of the Property Disposal on the operations of the Group. Following the execution of the SPA, save for the relocation of CSM office to a rented premises, there are no other effect on the operations of the Group. 3) The date of the payment of the Deposit. Total Deposit is RM255,000.00. The Deposit was paid on the following dates: i. RM76,500.00 being the Earnest Deposit had been paid to the Property Agent by Purchaser on 14 August 2024 as stakeholder sum. iii. The Balance Deposit amount to RM102,000.00 had paid to CSM on 30 September 2024. iii. A sum of RM76,500.00 equivalent to 3% of Purchase Price had paid to the Purchaser's solicitor as stakeholder sum for dealing with RPGT retention sum on 30 September 2024. 4) The terms of the payment of the Balance Purchase Price. The Balance Purchase Price of RM2,295,000.00 shall be paid within 3 months from the SPA date, which is the Completion Period. 5) The quantification of the market value of the Property, as per the Valuation Report dated 4 September 2024. The Market Value as per the Valuation Report dated 4 September 2024 is RM2,400,000.00 for the Property. 6) The particulars of any liabilities, including contingent liabilities, in relation to the Property Disposal which remain with Cabnet/CSM, together with the details and justification for such arrangements, and any guarantees given by Cabnet/CSM to the purchaser. As per announcement dated 25 September 2024, the Property was finance through a term loan of which there is an outstanding sum of RM1.12 million as at the date of announcement. Other than the outstanding loan and the Vendor’s obligations under the SPA, there are no other liabilities, including contingent liabilities and guarantees, to be assumed by Cabnet/CSM pursuant to the signing of the SPA. This Announcement is dated 30 September 2024.