We refer to the announcements dated 28 October 2015 and 21 December 2015 as well as the Circular to Shareholders dated 4 December 2015 ('Circular') in relation to the Proposed Construction. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements and Circular in relation to the Proposed Construction.
On behalf of the Board, RHB Investment Bank wishes to announce that:-
(i) MRCB had on 9 December 2016 entered into a supplemental agreement to the Management Contract ('Supplemental Agreement') with KUSB to amend certain terms and conditions of the Management Contract; and
(ii) MRCB had on 9 December 2016 entered into a novation agreement ('Novation Agreement') with MRCB Land Sdn Bhd, a wholly-owned subsidiary of MRCB ('MRCB Land'), and KUSB for MRCB to transfer and novate to MRCB Land all its rights, liabilities, benefits, interests, duties and obligations of the Management Contract.
For information purposes, the provisions under the Management Contract allow MRCB to novate the Management Contract to any of its wholly-owned subsidiaries without the prior written consent of KUSB.
The salient terms of the Supplemental Agreement and Novation Agreement are set out in the attachment below.
This Announcement is dated 9 December 2016.
MRCB - Malaysian Resources Corporation Bhd published this content on 09 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 January 2017 22:22:05 UTC.
Original documenthttp://ir.chartnexus.com/mrcb/onenew.php?id=74112&type=Announcement
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