Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the announcement dated 31 May 2021 in relation to the Proposed Acquisition (“Announcement”).

The Board of Directors of Nextgreen Global Berhad (“NGGB” or “the Company”) wishes to provide additional information in relation to the Company’s announcement made on 31 May 2021. The additional information is as follows:

1.           Basis of arriving at the Purchase Price

The Purchase Price of RM19,027,440,00, calculated based on the average price of RM1,181.46 per square foot. Though the Purchase Price was arrived on a “willing-buyer willing seller” basis, the following factors were taken into consideration: -  

a) the development’s potential and prospects in light of its strategic location. The building is surrounded by established neighbourhoods and has high level of connectivity via public transportation, major roads and highways. This would be further enhanced by the presence of a future MRT3 station; and

b) the prevailing market value of the surrounding properties. The building is strategically located amongst premier grade and prestigious corporate offices towers in Mont Kiara, the purchase price of the building is of market value when compared with commercial office buildings of similar specifications in the vicinity.  

This announcement is dated 3 June 2021.

Announcement Info