DETAILS OF THE JVA. Atilze, Welink and Prospect (“the Parties”) are desirous of entering into the JVA to set out the key principles of their collaboration through a joint venture company in Malaysia which shall be incorporated under the name as the Parties shall agree and the Registrar of Companies of Malaysia shall permit (“JVC”) with the share capital of 100,000 ordinary shares and the equity structure stated as follows (“Equity Structure”):- Parties Number of ordinary shares % Total of Consideration Atilze 55,000 55% RM55,000.00 Welink 30,000 30% RM30,000.00 Prospect 15,000 15% RM15,000.00 Pursuant to the JVA, the JVC shall undertake the IoT that includes the Connected Car and related businesses, in stages, across the ASEAN markets.
DETAILS OF THE JVA. 3.1 Salient Terms of the JVA SNOSB is a wholly owned subsidiary of SIGGAS. SNOSB was incorporated on 26 September 2007 in Malaysia with an initial authorised shares capital of Ringgit Malaysia One Hundred Thousand (RM100,000) only divided into One Hundred Thousand (100,000) ordinary shares of RM1.00 each and an initial paid-up share capital of Ringgit Malaysia Two (RM2.00) divided into Two (2) ordinary shares of RM1.00 each. Upon the execution of the JVA, SNOSB will increase its paid-up share capital to Ringgit Malaysia One Hundred Thousand (RM100,000) only divided into One Hundred Thousand (100,000) ordinary shares of RM1.00 each to be held by SIGGAS and PSL as follows:- Shareholders No of Shares % of Shareholding SIGGAS 80,000 80% PSL 20,000 20% The Contribution Proportion shall at all times be maintained save as expressly provided or authorised under the JVA. Any increase in the Contribution Proportions must be agreed to between the Parties. SIGGAS and PSL have entered into the JVA to govern the material aspects of their interest in SNOSB and conduct the Business and management of SNOSB for commercial gain.
DETAILS OF THE JVA. 2.1 INFORMATION ON XOX MEDIA XOX Media was incorporated in Malaysia as a private limited company which primarily involved in the business of provision of telecommunication and mobile application services.
DETAILS OF THE JVA. KHSB and YTB Development have entered into a joint venture agreement for the development of two adjoining lands known as Xxx 000 xxx 000, Xxxxxxx 00, Xxxxx X-Xxxxx, Xxxxx Xxxxxx (“JV Lands”) (“JV Development”). On 18 October 0000, XXXX has entered into a Joint Venture Development Agreement with Pihak Berkuasa Kemajuan Pekebun Kecil Perusahaan Getah (“RISDA”) for the development of the JV Lands (“RISDA JVA”). In accordance with the JVA, YTB Development shall pay to KHSB a sum of RM2.0 million as an advance (“Advance Payment”) and KHSB agrees to assign to YTB Development the sole and exclusive rights and entitlement to develop the JV Lands in any manner as YTB Development shall deem fit at its sole and absolute discretion, subject to the terms and conditions of the JVA. YTB Development undertakes to pay KHSB, for the benefit and in full discharge of all entitlement of KHSB, an amount equivalent to 50% of the profit after tax in respect of the JV Development (“KHSB’s Entitlement”) upon the terms and subject to the conditions of the JDA. The Advance Payment shall be treated as part of the KHSB’s entitlement. Subject to the approval of the relevant authorities, the proposed JV Development will take approximately 3 years commencing from the date of the JVA, which may include (but is not limited to) residential units. The actual number of units to be developed have yet to be determined at this juncture but YTB Development is currently in the initial stages of development planning and will be submitting a detailed development plan to the relevant authorities for approval in due course. The proposed JV Development is expected to have an estimated total gross development value (“GDV”) of approximately RM180 million.
DETAILS OF THE JVA. Both DPSE and Mutiara (collectively referred to as “the Parties”) are desirous of combining their skills, expertise, experience, capabilities and resources to do the agro-tourism, crops, bio-farm, renewable energy, solar farm, aqua-phonics. Accordingly, the Parties have agreed to set forth between themselves in regard to the unincorporated joint collaboration and development of the Project upon the terms and conditions as stipulated in the JVA.
DETAILS OF THE JVA. 2.1. INFORMATION OF TNSB TNSB was incorporated on 5 December 2016 under the Companies Act, 1965 as a private limited company. The nature of business of TNSB is property development. As at the date of this announcement, the authorised and paid-up capital of TNSB is RM400,000.00 divided into 400,000 ordinary shares of RM1.00 each, out of which 100 ordinary shares of RM1.00 each have been issued and paid-up. The Directors and shareholders of TNSB are as follows:- Directors and Shareholders Number of Shares in TNSB Directors Encik Xxxxxx Xxxx Xxx Xxxxxxxx Mr. Xxxxxxxxx Xxxxxx Xxxx Fai Shareholders Thriven Global Berhad New Catalysts Resources (M) Sdn. Bhd -- 85 (85%) 15 (15%)
DETAILS OF THE JVA
