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The Company has on
7 March 2008 entered into a Sale and Purchase Agreement of
Shares to dispose its two (2) ordinary shares of RM1 each
representing 100% equity interest in Glamour Development
(MM2H) Sdn Bhd (“GDSB”) to IJM Properties Sdn Bhd (“IJMPRP”)
for a cash consideration of RM2. GDSB, formerly known as
Glamour Development Sdn Bhd, is presently a dormant company.
IJMPRP is a wholly-owned subsidiary of IJM Corporation
Berhad (“IJM”), the holding company of the Company.
Save for IJM, who is deemed interested in the transactions,
none of the Directors or major shareholders of the Company,
or persons connected with them, has any interest, direct or
indirect, in the disposal and, no approval of shareholders
is required. The disposal will not have any significant
effect on the earnings or net assets per share of the
Company for the financial year ending 31 March 2008. |
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