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The Company has on 7 March 2008 entered into a Sale and Purchase Agreement of
Shares to dispose its two (2) ordinary shares of RM1 each representing 100%
equity interest in Glamour Development (MM2H) Sdn Bhd (“GDSB”) to IJM
Properties Sdn Bhd (“IJMPRP”) for a cash consideration of RM2. GDSB, formerly
known as Glamour Development Sdn Bhd, is presently a dormant company.
IJMPRP is a wholly-owned subsidiary of IJM Corporation Berhad (“IJM”), the
holding company of the Company.
Save for IJM, who is deemed interested in the transactions, none of the
Directors or major shareholders of the Company, or persons connected with
them, has any interest, direct or indirect, in the disposal and, no approval
of shareholders is required. The disposal will not have any significant
effect on the earnings or net assets per share of the Company for the
financial year ending 31 March 2008. |
