The Board of Directors of Hiap Huat Holdings Berhad (“HHH” or “the Company”) wishes to announce that Hiap Huat Chemicals Sdn Bhd [Registration No. 199401040380 (326067-D)] (“HHCSB” or “the Purchaser”), a wholly-owned subsidiary of the Company, had on 30 December 2019 entered into a Sale and Purchase Agreement ("SPA" or “the Agreement”) with Central Spectrum (M) Sdn Bhd [Registration No. 198901005831 (183136-D)] (“CSSB” or “the Vendor”) for the acquisition of an industrial land located at Lot No. 61, Phase 3C, Pulau Indah Industrial Park measuring approximately 4.10 acres (178596 square feet) (hereinafter referred to as “Lot”) within an on-going development project known as “Pulau Indah Industrial Park” held under Master Title No. P.N 112462, Lot No. 159227, in the District and Mukim of Klang, State of Selangor Darul Ehsan (“Master Land”) for a total cash consideration of RM11,965,932.00 (“Purchase Consideration”) (“Proposed Acquisition”).

Further details of the disposals are set out in the attachment below. 

This announcement is dated 30 December 2019.