Kuchai Development to dispose of assets, liabilities to Sungei Bagan Rubber Company for RM275.47mil

KUALA LUMPUR: Kuchai Development Bhd has entered into a conditional master sale and purchase agreement with Sungei Bagan Rubber Company (Malaya) Bhd to dispose of substantially all the assets and liabilities in Kuchai Development to Sungei Bagan Rubber Company at a disposal consideration of RM275.47 million.

In a filing with Bursa Malaysia today, Kuchai Development said the transaction would be satisfied entirely via the issuance of 27.52 million new Sungei Bagan Rubber Company shares at an issue price of RM10.01 per share.