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01 Jul 2026

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ORIENTAL HOLDINGS BERHAD ("OHB")

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
ORIENTAL HOLDINGS BERHAD ("OHB")

(I) PROPOSED ACQUISITION BY OHB OF 100% EQUITY INTEREST IN NORTHAM GEORGETOWN SDN BHD;

(II) PROPOSED ACQUISITION BY FARQUHAR PROPERTIES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF OHB, OF BAYVIEW HOTEL GEORGETOWN AND WISMA BOON SIEW; AND

(III) PROPOSED ACQUISITION BY NORTHAM LANGKAWI SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF OHB, OF BAYVIEW HOTEL LANGKAWI,

FOR A TOTAL CASH CONSIDERATION OF RM411.00 MILLION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the previous announcements and the circular to stockholders dated 29 January 2026 ("Circular") in relation to the Proposals. Unless otherwise stated, the definitions set out in the Circular shall apply herein.

 

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that the remaining conditions precedent pursuant to the SPA 2 have been fulfilled / waived on 1 July 2026.

 

The conditions precedent relating to the novation of the Ascott Agreements (as set out in Paragraph 3(b) of Appendix II(D) of the Circular) and the mutual termination of the tenancy agreement and services agreement (as set out in Paragraph 3(d) of Appendix II(D) of the Circular) were fulfilled, while the last condition precedent relating to the grant of an irrevocable right to NLSB to utilise the "Bayview" brand name as well as the relevant licenses, certificates and approvals required to operate Bayview Hotel Langkawi (as set out in Paragraph 3(c) of Appendix II(D) of the Circular), was waived by NLSB on 1 July 2026.

 

Accordingly, the SPA 2 has become unconditional on even date.