“Given the evolving circumstances, the group currently is unable to quantify nor determine the extent of the impact of the [Restriction] Order and COVID-19 on the earnings per share and net asset value per share of the group for the financial year ending June 30, 2020.”
In return, it will give up a portion of the land it is getting to China Railway Group's unit, China Railway Engineering Corp (M) Sdn Bhd (CRECM).
In a stock exchange filing yesterday, KAB said the parties have mutually agreed to terminate the HoA, with immediate effect.
ASB said DHVB was offered a six billion rupiah (RM1.66 million) cash settlement by CV Telabah Nasional Trading Company and PT Diwangkara Jaya Makmur, whose shareholders are the heirs of the hotel’s owner.
“The lands are of a suitable size and in a strategic location within the vicinity of an industrial park with Halal status, all of which are suitable and advantageous for future manufacturing activities.”
Mohd Zuki said Prime Minister Tan Sri Muhyiddin Yassin had ordered that all the menteri besar and chief ministers be invited without any exception.
The converter company said the land is no longer considered suitable to construct its plant, due to differing soil and earth conditions.
“The proposed disposal would enable the group to focus on its core competency of converting and further expansion of its business,” Daibochi said