Under PN17 regulation Serba Dinamik Holdings Berhad’s Board of Directors have informer that the sale of Menara Serba Dinamik in Seksyen 14, Bandar Shah Alam, Daerah Petaling, Negeri Selangor to the purchaser was completed.
The sales was the liquation in relation to winding up petition served by HSBC Amanah Malaysia Berhad, Ambank Islamic Berhad, Bank Islam Malaysia Berhad, MIDF Amanah Investment Bank Berhad, Standard Chartered Saadiq Berhad and United Overseas Bank (Malaysia) Bhd who were the syndicated lenders to the beleaguered group.
The group announced on October 12, 2023 APB Resources Bhd plans to acquire the 16-storey Menara Serba Dinamik along with the leasehold land where it sits for RM38 million, subject to the High Court’s approval.
The process equipment maker said the purchase consideration of RM38 million arrived at based on an ‘as-is-where is’ basis after arm’s length negotiation and after taking into consideration the net book value and the market value of the said property.
“The company had on 1 September entered into a sales and purchase agreement (SPA) for the purchase of the said property, subject to the terms contained in the SPA.”
Serba Dinamik had filed the application for direction on sale of the said property pursuant to SPA, pending approval from High Court.
APB, which is based in Shah Alam, said the acquisition would enable the group to utilise the property for its own purposes and generate income by renting it out.
