TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS REVOCATION OF PURCHASE OF PROPERTIES

CENTRAL GLOBAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
REVOCATION OF PURCHASE OF PROPERTIES

On 21 May 2025, the Board of Directors of Central Global Berhad (“the Company”) announced that Central Global Development Sdn. Bhd. (“CGD” or "Purchaser"), a wholly-owned sub-subsidiary of the Company, had entered into three (3) Sale And Purchase Agreements with Mr. Chew Hian Tat (“CHT” or “Vendor”), all dated 21 May 2025 (“SPAs”), for the proposed acquisitions of the following properties for a total purchase consideration of RM3.67 million:-

 

No.

Description of Properties

1.

A piece of freehold residential land held under Individual Title H.S.(D) 129980, PT47553, Mukim Cheras, Daerah Ulu Langat, Negeri Selangor, measuring approximately 1,143 square metres known as PT47553, H.S.(D) 129980, Taman Bukit Sg. Long, 43000 Kajang, Selangor Darul Ehsan.  (Consideration: RM1,660,000.00)

2.

A piece of freehold residential land held under Individual Title H.S. (D) 129960, PT 47533, Mukim Cheras, Daerah Ulu Langat, Negeri Selangor, measuring approximately 629 square metres known as No. 21, Jalan Bukit Sungai Long 2/2, Bukit Sg. Long, 43000 Cheras, Selangor Darul Ehsan.  (Consideration: RM910,000.00)

3.

A piece of freehold residential land held under Individual Title H.S. (D) 129961, PT 47534, Mukim Cheras, Daerah Ulu Langat, Negeri Selangor, measuring approximately 760 square metres known as PT47534 HS(D) 129961, Taman Bukit Sg. Long, 43000 Kajang, Selangor Darul Ehsan.  (Consideration: RM1,100,000.00)
 

 

The Company wishes to announce that CGB and CHT have mutually agreed to revoke the SPAs and had on 6 November 2025 entered into three (3) Deeds of Revocation of the SPAs, to fully release and discharge from the terms and conditions contained in the SPAs.

 

The SPAs were revoked as part of the Company’s strategic decision to realign its business focus and prioritise resources towards emerging opportunities with greater growth potential.

 

The deposit sum of 10% of the purchase consideration for the proposed acquisitions of the abovementioned three (3) properties amounting to RM367,000.00 paid by the Purchaser, has been fully refunded by the Vendor to the Purchaser.

 

The Board of Directors of CGB, having taken into consideration all aspects of the revocation and is of the opinion that the revocation would be in the best interest of CGB Group.

 

The Deeds of Revocation will be made available for inspection at the Registered Office of the Company at 15-2, Bangunan Faber Imperial Court, Jalan Sultan Ismail, 50250 Kuala Lumpur during normal business hours from Mondays to Fridays (except public holidays) for a period of one (1) month from the date of this announcement.

 

The announcement is dated 6 November 2025.

 

 

 

 



Announcement Info

Company Name CENTRAL GLOBAL BERHAD
Stock Name CGB
Date Announced 06 Nov 2025
Category General Announcement for PLC
Reference Number GA1-06112025-00012