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Bursa query KHSB on land forfeited by the State Government

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Bursa query KHSB on land forfeited by the State Government Empty Bursa query KHSB on land forfeited by the State Government

Post by thk Wed 15 Feb 2012, 22:33

he Company confirms that the land known as H.S.(D) 20034, PT No. 26549, Mukim Batu, Daerah Gombak, Negeri Selangor measuring approximately 234.187 acres (hereinafter referred to as “the Said Land”) owned by SAP Holdings Berhad (SAP) a wholly owned subsidiary of Kumpulan Hartanah Selangor Berhad (Hartanah Selangor) was forfeited by the State Government of Selangor on 25 August 2011. The detail of the forfeiture are as follows:-

i. On 25 May 2011, the State Government issued a Notice under Section 7A - Notis Untuk Memulih Pelanggaran Syarat issued by the Gombak District Land Office pursuant to Section 128 of the National Land Code, 1965 with the reason that the Said Land was being used for illegal quarrying activities and hence breached the specific conditions of the alienation of the Said Land.

ii. On 17 June 2011, Encik Roslan Ahmad the Chief Executive Officer of Hartanah Selangor at the material time, attended a meeting with the Gombak District Land Office to defend SAP’s rights to the Said Land and to brief the Land Office on the status of the legal cases with our Joint Venture partners involving the Said Land.

iii. Subsequently, on 13 June 2011, the State Government issued Borang 7B - Pelanggaran Syarat : Notis Supaya Menunjuk Sebab pursuant to Section 129 of the National Land Code,1965.

iv. On 25 August 2011, the State Government issued a Notice 8A - Notis Perkembalian Tanah Kepada Kerajaan pursuant to Section 129 of the National Land Code,1965 and served to SAP on 26 August 2011.

v. On 18 November 2011, the Company submitted an appeal to the decision of the Selangor State to forfeit the Said Land pursuant to Section 8A dated 25 August 2011.

The Management of the Company has informed and updated the Board on the status and action taken by the Management of SAP and Hartanah Selangor during the Board of Directors’ Meeting of Hartanah Selangor on 23 November 2011. The Board will be duly informed on any further development from time to time.

To date, the Company have not received any official notification on the decision of the State Government in relation to the appeal submitted by the Company.

In relations to the statement contained in the article in the Star dated 15 February 2012:-

(a) “shareholders (via annual report) and Bursa Malaysia were kept informed on the development”: We wish to clarify that the statement of the Chairman was referring to the frequent announcements to Bursa and also in the Annual Report 2010 on the development of the legal cases involving the Said Land; and

(b) “The Land was not on our Balance Sheet”: The Chairman was referring to the fact that the Said Land was no longer stated as a Company’s asset in the Company’s Balance Sheet, when it was forfeited by the State Government.
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