MATRIX CONCEPTS HOLDINGS BERHAD
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- Clarence Gardner
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1 MATRIX CONCEPTS HOLDINGS BERHAD ( U) (Incorporated in Malaysi JOINT VENTURE CUM SHAREHOLDERS AGREEMENT AND SUBSCRIPTION AGREEMENT BETWEEN MATRIX CONCEPTS HOLDINGS BERHAD, NISSIN EX.CO 1. INTRODUCTION Matrix Concepts Holdings Berhad ( ) has on 13 April 2017 entered into a Joint Venture Agreement cum Shareholders Agreement ( JVSA ) and Subscription Agreement ( SA ) with Nissin Ex. Co, Ltd ( ) and Nihon House Corporation ( ) to jointly venture into the manufacturing of prefabricated building materials using the technology of Industrialized Building Systems ( IBS ) to be undertaken by the joint venture company, Matrix IBS Sdn Bhd ( MIBS ). 2. INFOATION ON AND is a Japanese multi-trading company, specializing in selling flooring, paneling and decking products for use in residential and commercial projects whereas is also a Japanese company with its principal business in providing pre-cast concrete materials as well as marketing, selling and installing prefabricated houses under the brand name of NC House. 3 INFOATION ON MIBS MIBS is a company incorporated in Malaysia and a wholly-owned subsidiary of with an existing issued share capital of two(2) ordinary shares equivalent to 2/-. Its intended business is the manufacturing, marketing and sale of prefabricated concrete materials using the IBS technologies. 4 GENERAL DETAILS OF JVSA AND SA The salient details pertaining to the JVSA and SA, which are inter-related, are as follows:- Shareholding Structure Proposed shareholding structure of MIBS with an investment ratio of (80%), (12%) and (8%) ( collectively referred to as the Shareholders ) pursuant to the SA are as appended below :- Proposed Capital outlay at issue price of 1/- per share Current share capital of MIBS Initial share capital of MIBS Additional share capital of MIBS Total proposed share capital of MIBS (80%) (12%) (8%) TOTAL ,791, , ,200 2,239,998 2,208, , ,800 2,760,000 4,000, , ,000 5,000,000 Upon the issuance and allotment of the shares under the Initial Share Capital as described above, the enforcement of JVSA shall take effect ( Effective Date ).
2 b) Shareholders Advance The Shareholders shall provide cash advances to MIBS ( Advance ) to assist in its start-up operations as follows:- SHAREHOLDERS (80%) (12%) (8%) TOTAL JVSA Advance to MIBS 18,000,000 2,700,000 1,800,000 22,500,000 MIBS shall pay interest of 4% p.a ( 4% Interest ) in respect of the above Advance to the Shareholders and the Advance is repayable in the manner as described in paragraph (c) below c) Repayment of Advance and dividend policy i) The distribution of profits of MIBS to the Shareholders out of the Proft After Tax (PAT ) shall be in the following manner:- Financial period of MIBS Distribution percentage of the PAT 1 st to 3 rd financial year 40% of PAT 4 th to 6 th financial year 60% of PAT From 7 th financial year onwards 80% of PAT ii) iii) The Board of Directors of MIBS in making any recommendations shall take into considerations the financial requirements and the cash flow position of MIBS without adversely affect its business and any restrictions imposed by any relevant legislations. Subject to paragraph (ii) above, the priority of distribution of profits to the Shareholders shall be as follows:- 1.1 Firstly, to settle the 4% Interest of the Advance made by each of the Shareholders for that financial year; 1.2 The balance of monies after settlement of the above 4% Interest, shall be used to repay the principal of Advance made by each of the Shareholders for that financial year based on the following formula- C=B- (4% Interest x A) Where :- A - means the Advance made by the particular shareholder for that financial year; B - means the respective distribution percentage of the PAT for the respective financial period of the Company in accordance with paragraph (i) above C - means the repayment of principal of Advance for that financial year. 1.3 The final balance of monies after full settlement of payment under Paragraph 1.1 and 1.2 above, shall be distributed as payment of dividends to the Shareholders. For the avoidance of doubt, MIBS shall not declare any payment of dividends prior to the full settlement of the Advance and the 4% Interest. 2
3 d) Moratorium period Subject to the terms and conditions more particularly described in the JVSA, no shareholder of MIBS shall be entitled during the first five(5) years from the Effective Date ( Moratorium Period ) to sell, transfer, assign, charge, mortgage, encumber, grant options over or otherwise dispose of or encumber any of their shares. After the Moratorium Period, the Shareholders shall be entitle to sell, transfer, assign, charge, mortgage, encumber, grant options over or otherwise dispose of or encumber any of their shares subject to the terms and conditions more particularly described in the JVSA. e) Composition of Board of Directors in MIBS The Board s composition for MIBS shall be a total of five(5) members comprising three(3) representative directors from and one(1) representative director each from and. 5. OBLIGATIONS AND RESPONSIBILITY OF THE SHAREHOLDERS Primary obligations and responsibilities of each shareholder are as described below:- b) c) To provide guaranteed sales ( in terms of the volume of orders), subject always to the capability and availability of production and delivery by MIBS for the first three(3) years from the Effective Date and for the subsequent years, MIBS shall be given the priority to participate in the projects undertaken by and its subsidiary companies. To act as coordinator for the business especially between the countries of Japan and Malaysia due to the different business culture and technical skill and knowledge of each country To provide and share its know-how of all related technical skills and knowledge for the development of the IBS in connection with the conduct of the business. 6 RATIONALE ON THE JVSA The purpose of the JVSA to establish IBS in Malaysia based on an agreed business plan which shall include the local production of prefabricated building materials and to construct buildings from these materials which are suitable for the housing industry and market these materials in Malaysia by utilizing s technical skills and knowledge. The JVSA is established based on the following principles and rationale :- The venture into IBS manufacturing is a natural progression for the Group to see an upgrade in the Group s construction processes in line with the latest technology in housing construction for better quality control as well as to bring greater value to the customers; 3
4 The implementation of IBS is in line with Malaysia s Construction Industry Transformation Plan which propagate the acceleration of the adoption of IBS mechanization and modern practices. It had been highlighted by Construction Industry Development Board ( CIDB ) that they have intention to enforce all new development in Klang Valley to achieve 50% IBS score for private sector and 70% IBS score for public sector by By 2020, CIDB target to expand this enforcement to the whole of west Malaysia. Housing contractor which achieve 50 IBS score as prescribed in Malaysian Budget 2016 is entitled with the exemption of 0.125% construction levy; The integration of the new construction methodologies with s in-house construction arm using IBS technologies will shorten the construction duration of the properties by up to 30% with better worksite efficiency. The implementation of IBS is expected to reduce materials wastage and produce higher quality products; and It has always been s intention to inculcate sustainability in its development of properties within its group as such IBS techniques shall be localized and assist to promote local employment. In addition, the use of IBS system reduce dependency on foreign workers which address the issue of labour shortage in the construction sector. 7. DIRECTORS AND MAJOR SHAREHOLDERS INTEREST None of the Directors or major shareholders or persons connected to them has any interest, whether direct or indirect in the JVSA and SA 8. b) c) FINANCIAL EFFECTS OF JVSA AND SA Share capital Except for the increase in the share capital of MIBS, the JVSA and SA will not have any effect on the issued and paid up capital of. Net Assets (NA) and Earning per share The JVSA and SA will not have any material effect on the NA and Earnings per share of Group for the financial year ended 31 March Gearing The Transactions has no effect on the gearing of Group for the financial year ended 31 March DIRECTORS STATEMENT The Board, having considered all aspects of the JVSA and SA, is of the view that the JVSA and SA are in the best interest of. 10. APPROVAL The JVSA and SA do not require the approval of shareholders of or any relevant authorities. 4
5 11. DOCUMENTS FOR INSPECTION A copy of the JVSA and SA are available for inspection at the Registered Office of located at Wisma Matrix, No.57, Jalan Tun Dr Ismail, Seremban, Negeri Sembilan during normal business hours on Mondays to Fridays for a period of 3 months from the date of this announcement. This announcement is dated 13 April
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More informationThe Proposed DRP and Proposed Share Buy-Back shall be collectively referred to as the Proposals.
SILK HOLDINGS BERHAD ( SHB OR THE COMPANY ) (I) (II) PROPOSED DIVIDEND REINVESTMENT PLAN PROPOSED SHARE BUY-BACK 1. INTRODUCTION On behalf of the Board of Directors of SHB ( Board ), Affin Hwang Investment
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DIVERSIFIED GATEWAY SOLUTIONS BERHAD ( DGSB OR COMPANY ) PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE ISSUED ORDINARY SHARES IN DGSB 1. INTRODUCTION On behalf of the Board of Directors of DGSB ( Board
More informationAs at the LPD, KESM Test does not have any subsidiaries or associated companies.
KESM INDUSTRIES BERHAD ( KESMI OR THE COMPANY ) PROPOSED ACQUISITION OF THE REMAINING 692,308 ORDINARY SHARES OF RM1.00 EACH IN KESM TEST (M) SDN BHD ( KESM TEST ) ( KESM TEST SHARE(S) ), REPRESENTING
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SUNWAY REAL ESTATE INVESTMENT TRUST ( SUNREIT ) - FIRST SUPPLEMENTAL AGREEMENT TO THE HOTEL MASTER LEASE DATED 26 MAY 2010 BETWEEN RHB TRUSTEES BERHAD (AS TRUSTEE FOR SUNWAY REAL ESTATE INVESTMENT TRUST),
More information(b) all outstanding warrants 2016/2021 ( IDEALUBB Warrants ) with new warrants to be issued by Newco ( Newco Warrants ) on a one-for-one basis;
IDEAL UNITED BINTANG BERHAD ( IDEALUBB OR THE COMPANY ) PROPOSED INTERNAL REORGANISATION 1. INTRODUCTION On behalf of the Board of Directors of IDEALUBB ( Board ), M&A Securities Sdn Bhd wishes to announce
More informationThe Placement Shares are intended to be placed to persons other than the following:
NAIM INDAH CORPORATION BERHAD ( OR COMPANY ) PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM0.10 EACH IN, REPRESENTING NOT MORE THAN TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF
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BERTAM ALLIANCE BERHAD ( BERTAM OR THE COMPANY ) PROPOSED VARIATION TO THE UTILISATION OF PROCEEDS ARISING FROM THE DISPOSAL OF TWO (2) PARCELS OF FREEHOLD LAND HELD UNDER GERAN MUKIM 563, LOT 809 AND
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PLASTRADE TECHNOLOGY BERHAD ( PTB OR THE COMPANY ) PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF PTB ( PROPOSED PRIVATE PLACEMENT ) 1. INTRODUCTION On behalf of the Board
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YONG TAI BERHAD ("YTB" OR THE COMPANY") PROPOSED ACCELERATION OF THE CONVERSION PERIOD OF THE IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES ("ICPS") OF YTB ("PROPOSED ACCELERATION OF ICPS") 1. INTRODUCTION
More informationNote:- (1) As at the LPD, the Company has the following convertible securities:- 216,529,570 outstanding ATS warrants 2014/2019 ( Warrants A );
AT SYSTEMATIZATION BERHAD ( ATS OR THE COMPANY ) PROPOSED SHARE CONSOLIDATION 1. INTRODUCTION On behalf of the Board of Directors of ATS ( Board ), Mercury Securities Sdn Bhd ( Mercury Securities ) wishes
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CORPORATION BERHAD ( ) PROPOSED ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN FOR THE ELIGIBLE EMPLOYEES AND DIRECTORS OF AND ITS SUBSIDIARIES ( GROUP ) ( PROPOSED LTIP ) 1. INTRODUCTION On behalf of the
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Date: 20 July 2018 RHB SMART SERIES FUNDS comprising: RESPONSIBILITY STATEMENT This Product Highlights Sheet has been reviewed and approved by the directors of RHB Asset Management Sdn Bhd ( RHBAM ) and
More informationOn even date, MPB had further granted an irrevocable and unconditional letter of undertaking to the Sellers to:
MEDIA PRIMA BERHAD ("MPB" OR THE "COMPANY") PROPOSED ACQUISITION OF 100% EQUITY IN REV ASIA HOLDINGS SDN. BHD. (THE "TARGET COMPANY") BY MEDIA PRIMA DIGITAL SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MPB
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WILLOWGLEN MSC BERHAD ( WILLOWGLEN OR THE COMPANY ) PROPOSED BONUS ISSUE 1. INTRODUCTION On behalf of the Board of Directors of Willowglen ( Board ), Mercury Securities Sdn Bhd ( Mercury Securities ) wishes
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N2N CONNECT BERHAD ( N2N OR COMPANY ) PROPOSED PRIVATE PLACEMENT; PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND PROPOSED M&A AMENDMENT. 1. INTRODUCTION On behalf of the Board of Directors of N2N (
More informationFurther details of the Proposed Bonus Issue are set out in the ensuing sections of this announcement.
KAWAN FOOD BERHAD ( KAWAN OR COMPANY ) PROPOSED BONUS ISSUE OF 89,879,940 NEW ORDINARY SHARES IN KAWAN 1. INTRODUCTION On behalf of the Board of Directors of ( Board ), Alliance Investment Bank Berhad
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HIBISCUS PETROLEUM BERHAD ( HIBISCUS PETROLEUM OR COMPANY ) PROPOSED FREE WARRANTS ISSUE 1. INTRODUCTION On behalf of the Board of Directors of Hibiscus Petroleum ( Board ), RHB Investment Bank Berhad
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JAKS RESOURCES BERHAD (COMPANY NO. 585648-T) CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2018. THE FIGURES HAVE NOT BEEN AUDITED The Directors are pleased
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SCANWOLF CORPORATION BERHAD ( SCANWOLF OR THE COMPANY ) JOINT-VENTURE BETWEEN SCANWOLF PLASTIC INDUSTRIES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SCANWOLF WITH NISSHA INDUSTRIAL AND TRADING MALAYSIA SDN
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EG INDUSTRIES BERHAD ( EGIB OR COMPANY ) (I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 67,296,172 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES ( RCPS ) AT AN INDICATIVE ISSUE PRICE OF RM0.95 PER RCPS
More informationShareholders shall have the following options in respect of the Proposed DRS as may be made available by the Board in its absolute discretion:
SUNWAY BERHAD ( SUNWAY OR THE COMPANY ) PROPOSED DIVIDEND REINVESTMENT SCHEME ( PROPOSED DRS ) 1. INTRODUCTION On behalf of the Board of Directors of Sunway ( Board ), Kenanga Investment Bank Berhad (
More informationThe Proposed ESOS will be administered by a committee to be duly appointed and authorised by the Board ( Option Committee ).
EKOVEST BERHAD ( EKOVEST OR COMPANY ) PROPOSED EMPLOYEES SHARE OPTION SCHEME ( ESOS ) FOR THE ELIGIBLE DIRECTORS AND EMPLOYEES OF EKOVEST AND ITS SUBSIDIARIES ( EKOVEST GROUP OR GROUP ) ( PROPOSED ESOS
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BURSA MALAYSIA BERHAD ( BMB OR COMPANY ) (I) PROPOSED BONUS ISSUE OF UP TO 269,834,150 NEW ORDINARY SHARES IN BMB ( BMB SHARES ) ( BONUS SHARES ) ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY TWO (2) EXISTING
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MATRIX CONCEPTS HOLDINGS BERHAD ( OR COMPANY ) PROPOSED BONUS ISSUE OF UP TO 163,941,084 NEW ORDINARY SHARES IN ( SHARES ) ( BONUS SHARES ) ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FOUR (4) EXISTING
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A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 IPO Friday, 12 May 2017 FBM KLCI: 1,775.39 Sector: Construction Inta Bina
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SUNWAY BERHAD ( SUNWAY OR THE COMPANY ) (I) (II) PROPOSED BONUS ISSUE OF UP TO 2,804,471,128 NEW ORDINARY SHARES IN SUNWAY ( SUNWAY SHARES OR SHARES ) ( BONUS SHARES ) ON THE BASIS OF FOUR (4) BONUS SHARES
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MALAYSIA STEEL WORKS (KL) BHD ( MASTEEL OR THE COMPANY ) (I) (II) PROPOSED PRIVATE PLACEMENT OF UP TO 24,450,800 NEW ORDINARY SHARES IN MASTEEL ( MASTEEL SHARE(S) OR SHARE(S) ), REPRESENTING UP TO 10%
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PERAK TRANSIT BERHAD ( PERAK TRANSIT OR THE COMPANY ) PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES IN PERAK TRANSIT ( PERAK TRANSIT SHARES OR SHARES ) ( PLACEMENT SHARES ), REPRESENTING NOT MORE THAN
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