SALIENT TERMS OF THE JVA. The salient terms of the JVA include, amongst others, the following:
SALIENT TERMS OF THE JVA. 3.1 Sentoria and Seriemas (hereinafter collectively referred to as “Parties”), have agreed to carry out the Proposed JV on the Development Land on the basis that all sales revenue received by Sentoria in respect of the sale or disposal of the Units to external purchasers shall be shared between the Parties. Seriemas’ share of the Proposed JV is an amount of 10% - 15% of sales revenue. The revenue sharing ratio between the Parties is tabulated below. Sales revenue Revenue sharing ratio Seriemas’s Percentage Sentoria’s Percentage Up to RM1.0 billion 10% 90% Above RM1.0 billion up to RM1.58 billion 12% 88% Above RM1.58 billion 15% 85% In addition, Sentoria also guarantees payment to Seriemas of a total minimum sales revenue from the Proposed JV of RM75.0 million to be paid annually on staggered basis over the duration of the JVA of ten (10) years, unless extended by the Parties (“Minimum Revenue Guarantee”).
SALIENT TERMS OF THE JVA. 3.1 Both Avia and DASB has agreed to incorporate a new company and hold 50% of the ordinary shares in the capital of JVCO as per following proposed structure :
SALIENT TERMS OF THE JVA. 4.1 As a condition of the JVA, SMHK has agreed to extend a loan of USD3.0 million (United States Dollars Three Million) to Lierda HK secured by guarantees from Lierda China and Xxxx Xxx, a shareholder of Lierda China.
SALIENT TERMS OF THE JVA. Under the JVA, Titijaya and BPPSB agree to cooperate in the joint development of the Project vide BPDSB as the joint venture company for purpose of the Proposed Joint Venture. Pursuant to the JVA, the Company and BPCSB have also on 21 March 2018 entered into a Shares Sale Agreement for the Proposed 70% BPDSB Acquisition, thereby making BPDSB a 70%-owned subsidiary of Titijaya. The salient terms of the JVA include, inter alia the following:-
SALIENT TERMS OF THE JVA. The salient terms of the JVA are as follows:- The JVA shall form the basis of consensus between the Parties to co-operate and work together exclusively to set up a joint venture company to be incorporated in Malaysia for the development of the Project; The JVA sets out the scope of services to be provided by the Parties respectively to the JVC, which includes the development, management and maintenance of the Project; The shareholders of the JVC shall be MA(Sepang) and RI ONE, with MAHB and MF acting as their respective sponsors; The authorized capital of the JVC shall be RM110,000,000.00 divided into 110,000,000 ordinary shares of RM1.00 each with an initial issued share capital of RM2,800,000.00 divided into 2,800,000 ordinary shares of RM1.00 each. The shareholdings of the Parties shall be in the proportions of 30% for MA(Sepang) and 70% for RI ONE; and The Board of the JVC shall comprise of six (6) directors. MA(Sepang) shall be entitled to appoint two (2) directors whilst RI ONE shall be entitled to appoint four (4) directors including the Chairman of the Board. The JVC shall be headed by a President to be appointed by RI ONE. SALIENT TERMS OF THE CONCESSION AGREEMENT (the “CA”) The salient terms of the CA are as follows:- MA(Sepang) hereby grants a concession to the JVC to undertake the following:- Undertake the construction of the Project; Undertake the operation of the Project; and Undertake the maintenance works of the Project. The initial term of the concession shall expire on 11 February 2034 subject always to any extension or earlier termination of the concession, as the case may be in accordance with the terms and conditions in the CA. In consideration of granting such concession by MA(Sepang) to the JVC, the JVC agrees to pay MA(Sepang) a one off Concession Fee and also Royalty Fee in accordance with the terms and conditions in the CA.
SALIENT TERMS OF THE JVA. (i) The authorised share capital of the JVCO should be USD250,000 and the issued and paid-up share capital upon incorporation of the JVCO should be USD250,000 in stages.
SALIENT TERMS OF THE JVA i. FPSB and AKSB have agreed to enter into a joint venture for the purpose of carrying out the “Penghutanan Semula” portion on the Land and also for fruit crops cultivation / plantation (“the Project”) on the agreed area / block in partial of compartments 58, 59, 60, 61, 62 & 63, Hutan Simpan Som, Mukim Kuala Tembeling, Daerah Jerantut, Pahang Darul Makmur measuring in an area of ± 600 acres (“the Project Land”).
SALIENT TERMS OF THE JVA. 2.1 IBSB’s and SDSB’s Duties and Obligations
SALIENT TERMS OF THE JVA. 3.1 The Parties have agreed to incorporate a private limited company as the JVCO in Malaysia with an issued and paid-up share capital of up to Malaysian Ringgit (MYR)1,000,000.
