News

We refer to the announcement on 28 October 2022 in relation to the proposed disposal of land by D-Hill Sdn. Bhd. ("DHSB"), a wholly-owned subsidiary of Knusford Berhad ("KB" or "the Company").

The Company wishes to furnish additiional information in relation to the basis of arriving at the disposal consideration as follows:- 

The Sale Price was arrived at on a willing buyer and willing seller basis after taking into consideration the following:

1. The value of the Land being approximately RM2.4 million is based on KB Group’s audited financial statements as at 31 March 2022;
2. An estimated gain on disposal of approximately RM10.7 million;
3. Negotiations between the Purchaser and DHSB; and
4. Comparison of the current indicative pricing of other similar properties within the vicinity of the Land.

The definitions used in this announcement shall have the same meanings as that used in the announcement dated 28 October 2022 unless stated otherwise.

This announcement is dated 1 November 2022