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【PARKSON 5657 交流专区】百盛控股

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发表于 16-10-2020 10:35 AM | 显示全部楼层
本帖最后由 icy97 于 15-5-2021 08:15 AM 编辑


Type
Announcement
Subject
AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
Description
PARKSON HOLDINGS BERHAD ("PHB" or the "Company")ISSUANCE OF UNQUALIFIED AUDIT OPINION WHICH INCLUDED A PARAGRAPH ON MATERIAL UNCERTAINTY RELATED TO GOING CONCERN IN RESPECT OF PHB'S AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2020
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of PHB hereby announce that the Company's Auditors has issued an unqualified audit opinion which included a paragraph on material uncertainty related to going concern on the PHB Group in respect of PHB's Audited Financial Statements for the financial year ended 30 June 2020 ("MUGC").

Please refer to the attachment for further details on the MUGC.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3096766



Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Major Transaction: Formation of Joint Venture
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 16 October 2020 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of the Company listed on The HKEx, in relation to the major transaction on the formation of a joint venture.

On 16 October 2020, PRGL had announced that Shanghai Shengrui Commercial Management Co., Ltd., an indirect wholly-owned subsidiary of PRGL, and Hongxiang Real Estate Co., Ltd., a wholly-owned subsidiary of Hongxiang Holding Group Co., Ltd., had on 15 October 2020 entered into a joint venture cooperation agreement ("Joint Venture Cooperation Agreement") to establish the joint venture to jointly locate suitable land resources within Jiaxing City of Zhejiang Province in the People's Republic of China for future development and construction of properties on such land resources ("Joint Venture").

As one or more of the applicable percentage ratios in respect of the consideration under the Joint Venture Cooperation Agreement are more than 25% but all of such ratios are less than 100%, the entering into the Joint Venture Cooperation Agreement constitutes a major transaction of PRGL under Chapter 14 of the Rules Governing the Listing of Securities on The HKEx ("Listing Rules") and is therefore subject to announcement, circular and shareholders' approval requirements under Chapter 14 of the Listing Rules. In this regard, the written approval of certain shareholders interested in an aggregate of 1,448,270,000 ordinary shares of HK$0.02 each, representing approximately 54.97% of the total number of issued shares of PRGL, has been accepted in lieu of holding a general meeting of PRGL pursuant to Rule 14.44 of the Listing Rules.

The formation of the Joint Venture does not have a material impact on the earnings of the Group for the financial year ending 30 June 2021 and the net assets of the Group based on the audited consolidated statement of financial position of the Company as at 30 June 2020.

Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Major Transaction: Formation of Joint Venture
The announcement made by the Company on 16 October 2020 ("16 October Announcement") in relation to the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on even date by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of the Company listed on The HKEx, in relation to the major transaction on the formation of a joint venture ("PRGL Announcement"), was not attached with a copy of the PRGL Announcement as stated therein due to technical error. In this regard, a copy of the PRGL Announcement is attached herewith. We wish to inform that there is no change to the 16 October Announcement.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3103478



https://www.theedgemarkets.com/a ... y-development-china
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发表于 16-11-2020 09:18 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Asia Limited - Proposed Disposal of Property in Hai Phong City, Vietnam
We attach herewith the announcement made on 27 July 2020 to the Singapore Exchange Securities Trading Limited ("SGX-ST") by Parkson Retail Asia Limited ("PRA"), a 67.96% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on the SGX-ST, in relation to the proposed disposal by Parkson Haiphong Co. Ltd., a wholly-owned subsidiary of Parkson Corporation Sdn Bhd which is in turn a wholly-owned subsidiary of PRA, of the whole retail podium of Parkson TD Plaza Shopping Center, a mixed commercial and residential development in Hai Phong City, Vietnam to Thuy Duong Construction & Trading Joint Stock Company at the Vietnamese Dong equivalent of US$10 million (equivalent to approximately RM42.5 million) ("Proposed Disposal").

The Proposed Disposal is a "major transaction" as defined under Chapter 10 of the Listing Manual of the SGX-ST. Accordingly, the Proposed Disposal is conditional upon the approval of shareholders of PRA, to be obtained at an extraordinary general meeting of PRA to be convened.

The Proposed Disposal does not have a material impact on the earnings of the PHB Group for the financial year ending 30 June 2021, and the net assets and the gearing of the PHB Group based on the audited consolidated statement of financial position of the Company as at 30 June 2019.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3072226

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发表于 21-11-2020 10:04 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Acquisition of the remaining 30% equity interest in Parkson Credit Sdn Bhd
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 29 July 2020 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on The HKEx, in respect of the connected transaction on the acquisition of the remaining 30% equity interest in Parkson Credit Sdn Bhd ("Parkson Credit") ("PRGL Announcement").

On 29 July 2020, PRGL had announced that Oroleon (Hong Kong) Limited ("Oroleon"), a wholly-owned subsidiary of PRGL, had on even date, entered into an agreement with Parkson Credit Holdings Sdn Bhd ("Parkson Credit Holdings"), a wholly-owned subsidiary of the Company, for the acquisition by Oroleon from Parkson Credit Holdings of the remaining 30% equity interest comprising 9,000,000 ordinary shares in the capital of Parkson Credit ("Sale Shares") at a cash consideration of RM26 million ("Acquisition"). Upon the completion of the Acquisition, Parkson Credit will become a wholly-owned subsidiary of PRGL and remain a subsidiary of the Company.

In addition to the PRGL Announcement, the Company wishes to further announce the following in relation thereto:

(1) The effects on PHB arising from the proposed disposal by Parkson Credit Holdings of the remaining 30% equity interest comprising the Sale Shares to Oroleon ("Proposed Disposal") are as follows:

(a) Share capital and substantial shareholders' shareholdings

The Proposed Disposal will not have any effect on the issued share capital and the substantial shareholders' shareholdings in PHB as the Proposed Disposal does not involve the issuance of new ordinary shares by PHB.

(b) Earnings and earnings per share

The Proposed Disposal is not expected to result in any gain or loss being recognised in the statement of profit or loss of the PHB Group, as Parkson Credit will remain a subsidiary of PHB through PHB's equity interest in PRGL upon completion of the Proposed Disposal.

PHB's effective equity interest in Parkson Credit will be diluted from 68.48% to 54.97%, resulting in a lower future earnings contribution from Parkson Credit to the PHB Group.

(c) Net assets ("NA"), NA per share and gearing

On a proforma basis, the Proposed Disposal is not expected to have a material impact on the NA and NA per share, and the gearing of the PHB Group based on the audited consolidated statement of financial position of PHB as at 30 June 2019.

(2) The highest percentage ratio of PHB for the Proposed Disposal

The highest percentage ratio applicable to the Proposed Disposal is 1.27% based on the audited consolidated financial statements of PHB for the financial year ended 30 June 2019.

(3) Directors' and major shareholders' interests

Pursuant to Paragraph 10.08 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Proposed Disposal is not regarded as a related party transaction as the interests of the Directors and major shareholders stated hereinafter are less than 10% in PRGL other than via PHB.

For the purpose of disclosures, the interests of the Directors and/or major shareholders of PHB and persons connected with them are as follows:

(a) Y. Bhg. Tan Sri Cheng Heng Jem ("TSWC"), the Chairman, Managing Director and a major shareholder of PHB, is also the Chairman, Executive Director and a substantial shareholder of PRGL by virture of his interests held via PHB. TSWC is the father of Ms Juliana Cheng San San, an Executive Director of PRGL;

(b) Ms Cheng Hui Yen, Natalie, the daughter of TSWC, is the Executive Director of PHB and the sister of Ms Juliana Cheng San San;

(c) Mr Ooi Kim Lai is an employee of a subsidiary of a company in which TSWC is a major shareholder and is therefore deemed to be a person connected with TSWC; and

(d) Apart from interest held via PHB, TSWC and persons connected with him do not have any other equity interest in PRGL except for Y.Bhg. Puan Sri Chan Chau Ha @ Chan Chow Har, the wife of TSWC, who has direct interest of approximately 0.04% in PHB. She is also a substantial shareholder of PRGL and is deemed to be interested in the shares of PRGL in which TSWC is deemed to be interested in for purposes of the Securities and Futures Ordinance of Hong Kong.

Save as disclosed above, none of the other Directors of PHB has any interest in PRGL.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3073103

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发表于 18-12-2020 09:31 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Completion of acquisition of the remaining 30% equity interest in Parkson Credit Sdn Bhd
We refer to the announcement made by the Company on 29 July 2020 in relation to the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 29 July 2020 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of the Company listed on The HKEx, in respect of the connected transaction on the acquisition of the remaining 30% equity interest in Parkson Credit Sdn Bhd ("Parkson Credit") at a cash consideration of RM26 million ("Earlier Announcement").

Unless otherwise stated, the terms used throughout this announcement shall have the same meaning as defined in the Earlier Announcement.

PRGL had on 21 August 2020 made an announcement to The HKEx that all the Conditions Precedent of the New SPA had been fulfilled and the Completion took place on 21 August 2020 in accordance with the terms and conditions of the New SPA ("PRGL Announcement"). A copy of the PRGL Announcement is attached herewith.

Consequent thereupon, Parkson Credit became a wholly-owned subsidiary of PRGL and remains a subsidiary of the Company.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3079758

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发表于 2-1-2021 07:11 AM | 显示全部楼层
本帖最后由 icy97 于 7-8-2021 09:44 AM 编辑

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2020
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2020
30 Jun 2019
30 Jun 2020
30 Jun 2019
$$'000
$$'000
$$'000
$$'000
1Revenue
677,986
954,314
3,251,773
4,032,665
2Profit/(loss) before tax
-234,572
-16,517
-543,090
-24,135
3Profit/(loss) for the period
-270,609
-45,892
-615,385
-152,268
4Profit/(loss) attributable to ordinary equity holders of the parent
-209,250
-42,128
-427,280
-129,184
5Basic earnings/(loss) per share (Subunit)
-19.61
-3.95
-40.04
-12.11
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.4900
1.9200




SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2020
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2020
30 Sep 2019
30 Sep 2020
30 Sep 2019
$$'000
$$'000
$$'000
$$'000
1Revenue
812,102
887,446
812,102
887,446
2Profit/(loss) before tax
-24,944
-54,350
-24,944
-54,350
3Profit/(loss) for the period
-29,919
-65,576
-29,919
-65,576
4Profit/(loss) attributable to ordinary equity holders of the parent
-21,729
-44,620
-21,729
-44,620
5Basic earnings/(loss) per share (Subunit)
-2.04
-4.18
-2.04
-4.18
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.5200
1.4900



Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Asia Limited - Legal Proceedings involving Parkson Vietnam Co., Ltd.
We attach herewith the announcement made on 11 December 2020 to the Singapore Exchange Securities Trading Limited ("SGX-ST") by Parkson Retail Asia Limited ("PRA"), a 67.96% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on the SGX-ST, in relation to the legal proceedings involving Parkson Vietnam Co., Ltd. ("PVC"), a wholly-owned subsidiary of Parkson Corporation Sdn Bhd which is in turn a wholly-owned subsidiary of PRA.

On 11 December 2020, PRA had announced that PVC had received a letter dated 25 November 2020 from the Vietnam International Arbitration Centre ("VIAC") which provided, among others, that the landlord of PVC’s existing leased premises in Da Nang, Vietnam ("Premises") ("Landlord") had submitted a request for arbitration ("Arbitration Request") in relation to the said lease to the VIAC. PVC currently operates a department store on the Premises leased to PVC for a term of 10 years which commenced on 15 February 2015 ("Lease").

The Arbitration Request relates to the amount payable by PVC pursuant to the terms of the Lease Agreement in relation to the Lease entered into between PVC (as tenant) and the Landlord. PVC has been in ongoing negotiations with the Landlord on the payable amount and the possibility of early termination of the Lease. The Landlord has claimed from PVC an aggregate amount of approximately VND26.9 billion (approximately S$1.6 million or RM4.8 million) in alleged unpaid and outstanding rental and late payment charges for the period from 15 April 2019 to 14 August 2020 ("Claim Amount"). PVC intends to dispute the quantum of the Claim Amount, and will seek legal advice from its Vietnam counsel on the merits of the case and steps to be taken to protect the interests of PVC and PRA.

PRA is unable to determine the potential financial impact of the arbitration, and will provide an update after it has consulted with its external auditors and Vietnam counsel. Notwithstanding that the Claim Amount had been substantially accrued in the financial statements of PVC, in the event the outcome of the arbitration is ultimately not determined in favour of PVC and PVC is to settle the Claim Amount, this might likely result in an adverse impact on the financial position of the PRA Group for the current financial year ending 30 June 2021.   

PRA will make further announcements as and when there are material developments to these legal proceedings.

The arbitration even if the outcome not determined in favour of PVC and PVC is required to settle the Claim Amount, does not and would not have a material impact on the earnings of the PHB Group for the financial year ending 30 June 2021 and the net assets of the PHB Group based on the audited consolidated statement of financial position of the Company as at 30 June 2020.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3113282



Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Discloseable Transaction: Entering into a Supplemental Lease Agreement in respect of the Properties in Xi'an City, the People's Republic of China
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 23 December 2020 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on The HKEx, in relation to the discloseable transaction on the entering into a supplemental lease agreement as tenant in respect of the properties in Xi'an City, the People's Republic of China ("PRC") ("PRGL Announcement").

On 23 December 2020, PRGL had announced a discloseable transaction on the entering into a supplemental lease agreement on even date between Xi'an Lucky King Parkson Plaza Co., Ltd. ("Tenant"), an indirect wholly-owned subsidiary of PRGL, and Lucky King (Xi'an) Real Estate Development Co., Ltd. in respect of the tenancy of the relevant parts on (i) the second to fifth floors of the Southern District; and (ii) the second to fifth floors of the Northern District of Lucky King International Shopping Mall, No. 59 Jinhua South Road, Beilin District, Xi'an City, the PRC (collectively, the "Properties") for a term of 15 years commencing from 24 April 2021 and expiring on 23 April 2036 ("Term") ("Supplemental Lease Agreement"). Prior to entering into the Supplemental Lease Agreement, the Tenant had been occupying the Properties as tenant pursuant to the Previous Lease Agreements (as defined in the PRGL Announcement).

Pursuant to the International Financial Reporting Standard 16 - Leases ("IFRS 16") issued by the International Accounting Standards Board, the entering into the Supplemental Lease Agreement as tenant will require the PRGL Group to recognise the Properties as the right-of-use assets in which the amount was approximately Rmb121,154,000 (equivalent to approximately RM75.1 million) calculated with reference to the present value of the rental payments as discounted using a discount rate equivalent to PRGL's incremental borrowing rate during the entire Term. Thus, the entering into the Supplemental Lease Agreement and the transaction contemplated thereunder will be regarded as an acquisition of assets by the PRGL Group ("Acquisition of Assets").

As the highest applicable percentage ratio in respect of the consideration for the acquisition of the right-of-use assets recognised by the PRGL Group pursuant to IFRS 16 is more than 5% but less than 25%, the entering into the Supplemental Lease Agreement constitutes a discloseable transaction for PRGL, and is subject to reporting and announcement requirements but is exempted from circular and shareholders' approval requirements under Chapter 14 of the Rules Governing the Listing of Securities on The HKEx.

The Acquisition of Assets does not have a material impact on the earnings of the PHB Group for the financial year ending 30 June 2021 and the net assets of the PHB Group based on the audited consolidated statement of financial position of the Company as at 30 June 2020.


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3116251

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发表于 24-11-2021 08:11 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
PARKSON HOLDINGS BERHAD ("PARKSON" OR THE "COMPANY")PROPOSED SHARE CAPITAL REDUCTION
On behalf of the Board of Directors of Parkson, Mercury Securities Sdn Bhd (“Mercury Securities”) wishes to announce that the Company proposes to undertake a reduction of the issued share capital of the Company pursuant to Section 116 of the Companies Act 2016 (“Act”) (“Proposed Share Capital Reduction”).

Further details on the Proposed Share Capital Reduction are set out in the attachment below.

This announcement is dated 8 November 2021.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3207548

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发表于 12-1-2022 08:05 AM | 显示全部楼层
SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2021
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
Three Months
Three Months
Fifteen Months
Fifteen Months
01 Jul 2021
To
01 Jul 2020
To
01 Jul 2020
To
01 Jul 2019
To
30 Sep 2021
30 Sep 2020
30 Sep 2021
30 Sep 2020
$$'000
$$'000
$$'000
$$'000
1Revenue
647,272
0
4,003,620
0
2Profit/(loss) before tax
-76,664
0
-65,168
0
3Profit/(loss) for the period
-82,212
0
-128,592
0
4Profit/(loss) attributable to ordinary equity holders of the parent
-52,368
0
-89,736
0
5Basic earnings/(loss) per share (Subunit)
-4.81
0.00
-8.36
0.00
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.5400
1.4900

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发表于 9-3-2022 07:55 AM | 显示全部楼层
PARKSON HOLDINGS BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?
No
Types of corporate proposal
Private Placement
Details of corporate proposal
Private placement of up to 106,718,000 new ordinary shares in Parkson Holdings Berhad
No. of shares issued under this corporate proposal
25,000,000
Issue price per share ($$)
Malaysian Ringgit (MYR)   0.1850
Par Value($$) (if applicable)

Latest issued share capital after the above corporate proposal in the following
Units
1,118,902,050
Issued Share Capital ($$)
Malaysian Ringgit (MYR) 4,155,629,753.000
Listing Date
20 Dec 2021


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发表于 12-9-2022 10:33 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Very Substantial Disposal in relation to the Proposed Disposal of Properties in Qingdao City
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 9 September 2022 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on The HKEx, in respect of a very substantial disposal in relation to the proposed disposal of properties in Qingdao City, the People's Republic of China ("PRC").

On 9 September 2022, PRGL had announced that Qingdao No. 1 Parkson Co., Ltd. ("Vendor"), an indirect 95.91% owned subsidiary of PRGL, and Qingdao Haiming City Development Company Limited ("Purchaser") have on even date entered into a sale and purchase agreement ("SPA"), pursuant to which the Vendor has agreed to sell and the Purchaser has agreed to purchase the properties (together with the car parking lots, refuge floors and other ancillary facilities) consist of Floor No. B5-F8, F9-F12A, F27, F46-F48 located at No. 44-60 Zhongshan Road, Shinnan District, Qingdao City, Shandong Province, the PRC with an aggregate construction area of approximately 76,013 square metres, at the consideration of Rmb280 million (equivalent to approximately RM182 million) ("Disposal").

For the purpose of this announcement, an exchange rate of Rmb1.00: RM0.65 is assumed.

As the highest applicable percentage ratio in respect of the Disposal is more than 75%, the Disposal constitutes a very substantial disposal of PRGL under Chapter 14 of the Rules Governing the Listing of Securities on The HKEx and is subject to reporting, announcement, circular and shareholders' approval requirements. In this regard, an extraordinary general meeting of PRGL will be convened to seek its shareholders' approval on the Disposal. The completion of the Disposal is conditional upon the satisfaction of the conditions precedent as set out in the SPA and as such, the Disposal may or may not proceed.

The Disposal does not have a material impact on the earnings of the PHB Group for the financial year ending 31 December 2022 and the net assets of the PHB Group based on the audited consolidated statement of financial position of the Company as at 31 December 2021.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3291177

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发表于 3-4-2024 07:26 AM | 显示全部楼层
Type
Announcement
Subject
OTHERS
Description
Announcement by Parkson Retail Group Limited - Discloseable Transaction: Tenancy Agreement in respect of a Property in Guiyang City, the PRC
We attach herewith the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") on 2 April 2024 by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of Parkson Holdings Berhad ("PHB" or the "Company") listed on The HKEx, in relation to the discloseable transaction on a tenancy agreement in respect of a property in Guiyang City, Guizhou Province, the People's Republic of China ("PRC").

On 2 April 2024, PRGL had announced the entering into of a tenancy agreement on 29 March 2024 between Guizhou Shenqi Parkson Retail Development Co., Ltd. ("Sub-Tenant"), an indirect 60% owned subsidiary of PRGL, Guizhou Longgang Commercial Operation Management Co., Ltd. ("Tenant A"), an indirect wholly-owned subsidiary of Guizhou Shenqi Enterprise Co., Ltd. ("Guizhou Shenqi Enterprise"), and Guizhou Yuncui Property Management Co., Ltd. in respect of the sub-lease of Basement Level 1, and Level 1 to Level 4 in Longgang International Center, 117 Zhonghua Middle Road, Guiyang City, Guizhou Province, the PRC ("Property") for a term of up to 15 years and 7 months commencing from the date of commencement of the 7-month renovation period, which shall be no later than 30 April 2024 ("Tenancy Agreement").

Pursuant to the International Financial Reporting Standard 16 - Leases ("IFRS 16") issued by the International Accounting Standards Board, the entering into of the Tenancy Agreement as a sub-tenant will require the PRGL Group to recognise the Property as a right-of-use asset, the amount of which is approximately Rmb57.1 million (equivalent to approximately RM37.1 million). Thus, the entering into of the Tenancy Agreement and the transactions contemplated thereunder will be regarded as an acquisition of asset by the PRGL Group ("Acquisition of Asset") under the Rules Governing the Listing of Securities on The HKEx ("Listing Rules").

For the purpose of this announcement, an exchange rate of Rmb1.00: RM0.65 is assumed.

As the highest applicable percentage ratio in respect of the consideration for the acquisition of the right-of-use asset recognised by the PRGL Group pursuant to IFRS 16 is more than 5% but less than 25%, the entering into of the Tenancy Agreement constitutes a discloseable transaction of PRGL, and is therefore subject to reporting and announcement requirements but is exempted from circular and shareholders' approval requirements under Chapter 14 of the Listing Rules.

The total assets, profits and revenue of the Sub-Tenant compared with that of the PRGL Group was less than 5% of the applicable percentage ratios for the financial year ended 31 December 2023, hence the Sub-Tenant is an insignificant subsidiary of PRGL.

Notwithstanding Tenant A is indirectly wholly-owned by Guizhou Shenqi Enterprise, a substantial shareholder holding the remaining 40% equity interest in the Sub-Tenant; Guizhou Shenqi Enterprise and Tenant A are not regarded as connected persons of PRGL pursuant to the Listing Rules as the Sub-Tenant is an insignificant subsidiary of PRGL. Therefore, the entering into of the Tenancy Agreement does not constitute a connected transaction of PRGL under Chapter 14A of the Listing Rules.

The Acquisition of Asset does not have a material impact on the earnings of the PHB Group for the financial year ending 31 December 2024 and the net assets of the PHB Group based on the audited consolidated statement of financial position of the Company as at 31 December 2022.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3435491

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