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Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions (Amended Announcement)
BackSep 22, 2025
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | Hua Yang Berhad ("HYB" or "Company") Correction to announcement released on disposal of investment in Magna Prima Berhad by subsidiary, Prisma Pelangi Sdn Bhd |
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Reference is made to the Company's announcement released on 19 September 2025 and the Company wishes to inform that the date of disposal should be 18 September 2025 and not 17 September 2025 as stated in the announcement. The corrected announcement is appended below.
The Board of Directors of Hua Yang Berhad (“HYB”) or “Company”) wishes to inform that the Company’s wholly-owned subsidiary, Prisma Pelangi Sdn Bhd (PPSB) has on 18 September 2025 disposed of 22,600,000 ordinary shares in Magna Prima Berhad (MPB), representing approximately 5.66% equity interest in MPB (excluding treasury shares) for a cash consideration of RM16,498,000 (“Consideration”) via a direct business transaction (“Disposal”). Consequential to the Disposal, PPSB still holds 80,289,940 ordinary shares in MPB, representing approximately 20.11% equity interest in MPB (excluding treasury shares). The Consideration proceeds will be used by the Hua Yang Group to settle partially the bank borrowings. The Disposal is not subject to the approval of the shareholders of HYB as the highest percentage ratio is 3.43% only. None of the Directors and/or the substantial shareholders of HYB and/or persons connected to them has any direct or indirect interest in the Disposal. The Board of Directors of HYB is of the opinion that the Disposal is in the best interest of the HYB Group. This announcement is made on 22 September 2025. |
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Announcement Info
| Company Name | HUA YANG BERHAD |
| Stock Name | HUAYANG |
| Date Announced | 22 Sep 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22092025-00015 |