30. significant events
(a) During the year, the Company (BPB), through Trustee, CIMB Islamic Trustee Berhad and a Subsidiary,
Boustead Sungai Manar Sdn Bhd (BSM), entered into sales and purchase agreements (SPA) with various
parties to dispose 351.72 hectares (ha) of freehold land situated in Mukim Kulai, District of Kulaijaya for
total cash consideration of RM203.878 million as follows:
Consideration
Vendor
Purchaser
SPA Date
Ha
RM’000
BPB
Seng Hong Quarry Sdn Bhd (SHQ)
20
May
2015
56.30
29,088
BPB
Bentara Gemilang Industries Sdn Bhd (BGI)
19
May
2015
31.87
19,897
BPB
Sanggul Suria Sdn Bhd (SSSB)
15
June
2015
57.03
12,277
BSM Hanson Quarry Products (Segamat) Sdn Bhd
15
June
2015 102.12
81,942
(HQP)
BSM YTL Cement Berhad (YTL 1)
8
September
2015 33.26
19,693
BSM YTL Cement Berhad (YTL 2)
8
September
2015 18.45
10,922
BPB
YTL Cement Berhad (YTL 3)
8
September
2015 52.69
30,059
351.72
203,878
i) The disposals to SHQ, BGI and YTL 1 have been completed and gains recognised in profit or loss
amounted to RM57.1 million for the Group and RM39.5 million for the Company.
ii) Deposits amounting to RM22.0 million have been received in respect of disposals to SSSB, HQP,
YTL 2 and YTL 3. As at the date of this report, the conditions precedent in respect of these SPAs have
yet to be met.
(b) On 15 December 2015, Boustead Rimba Nilai Sdn Bhd, a Subsidiary entered into agreements to acquire the
beneficial ownership of 106 pieces of leasehold land measuring approximately 532.77 hectares in the
District of Beluran, Sabah for cash consideration of RM33.3 million. The acquisition was completed in
January 2016.
an n ual repo rt 2015
119
