Investor Relations

We refer to the announcement made on 28 September 2021 in relation to the Proposed Disposal (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

On behalf of the Board of Directors of BPB, Affin Hwang Investment Bank Berhad wishes to announce that both BPB and SIPP Power Sdn Bhd, being the purchaser of the Kulai Young Estate, have mutually agreed to extend the Approval Period by another month from 28 December 2021 to 28 January 2022. The rationale for the extension is because of the delay in EPU approval, which had been obtained subsequently on 6 January 2022.

Further, as set out in Section 2.3.2 of the Announcement, the Disposal Consideration is subject to adjustment. Subsequent to a land survey, the size of the land area has been agreed by both parties and the final Disposal Consideration shall be RM428.77 million (compared to RM428.82 million as stated in the Announcement), where the adjustment shall be made for the Balance Purchase Price.

Save for the aforementioned, all other material terms of the SPA remain unchanged.

A copy of the extension letter is available for inspection at the registered office of BPB at 28th Floor, Menara Boustead, 69 Jalan Raja Chulan, 50200 Kuala Lumpur, during normal office hours on Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 13 January 2022.