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Konsortium Logistik Berhad (Konsortium or the Company) Acquisition of Diperdana Holdings Berhad’s (Diperdana) entire business undertaking (Diperdana’s Business Acquisition)

KONSORTIUM LOGISTIK BERHAD

Type

Announcement
SubjectKonsortium Logistik Berhad (Konsortium or the Company)
Acquisition of Diperdana Holdings Berhad’s (Diperdana) entire business undertaking (Diperdana’s Business Acquisition)

Contents :

We refer to the announcement dated 19 November 2001 by Southern Investment Bank Berhad (SIBB), on behalf of the Board of Directors of Konsortium (Board) and to the Sale of Business Agreement dated 16 November 2001 (amended by the First Supplemental Agreement dated 15 November 2002 and the Second Supplemental Agreement dated 6 October 2004) entered into between Konsortium and Diperdana (SBA) on the Diperdana’s Business Acquisition.


Pursuant to Clause 3.1(e) of the SBA, Diperdana is required to inform Konsortium of the assets and liabilities which have been or are to be transferred to Diperdana Kontena Sdn Bhd (DKSB) prior to the completion of the Diperdana’s Business Acquisition.

In this regard, on behalf of the Board, SIBB wishes to announce that Konsortium had on 5 April 2005 received a letter from Diperdana dated 31 March 2005 setting out the assets and liabilities which have been or are in the process of being transferred to DKSB. The said assets and liabilities, as set out in the enclosed table, are based on the unaudited balance sheet of Diperdana (at company level) as at 28 February 2005.

The transfer of assets and liabilities to DKSB is to facilitate the Diperdana’s Business Acquisition. Subsequent to the said transfer, Diperdana will transfer its investment in DKSB and the remaining assets and liabilities in Diperdana to Konsortium directly.

However, the piece of vacant commercial land measuring approximately 0.5651 hectares, held under Lot No. 693, Mukim of Cheng, District of Melaka Tengah, Melaka classified as a Malay customary land (whereby the ownership of the land is restricted to Malays only) (Melaka Land) will not be transferred to Konsortium and will be dealt with separately as agreed between Konsortium and Diperdana on 25 October 2004, and announced to Bursa Malaysia Securities Berhad on 26 October 2004.

This announcement is dated 6 April 2005.
Diperdana assets and liabilitiies_28.2.05.xls



Announcement Info

Company NameKONSORTIUM LOGISTIK BERHAD  
Stock Name KONSORT    
Date Announced6 Apr 2005  
CategoryGeneral Announcement
Reference NoMI-050406-64022

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