JETSON

0.105

-0.005 (-4.5%)

OTHERS KUMPULAN JETSON BERHAD ("JETSON" or "THE COMPANY") ACCEPTANCE OF LETTER OF INTENT FROM ENCORE MERGER SDN. BHD TO MAGICAL ERA (M) SDN BHD, A SUBSIDIARY OF THE COMPANY FOR THE PURCHASE OF INDUSTRIAL LOTS

KUMPULAN JETSON BERHAD

Type Announcement
Subject OTHERS
Description 
KUMPULAN JETSON BERHAD ("JETSON" or "THE COMPANY")
ACCEPTANCE OF LETTER OF INTENT FROM ENCORE MERGER SDN. BHD TO MAGICAL ERA (M) SDN BHD, A SUBSIDIARY OF THE COMPANY FOR THE PURCHASE OF INDUSTRIAL LOTS

The Board of Directors of Jetson is pleased to announce that Magical Era (M) Sdn Bhd (“Magical Era”), a 51% owned subsidiary of the Company had on 5 November 2025 accepted a Letter of Intent (“LOI”) issued by Encore Merger Sdn Bhd (“Encore Merger”) for the propose acquisition of the 30 Industrial Lots at Mukim Taboh Naning, Daerah Alor Gajah, State of Melaka by Encore Merger.

 

(Magical Era (M) Sdn Bhd and Encore Merger Sdn Bhd are collectively referred to as the “the Parties”)

 

The salient terms of the LOI are set out as below:-

 

Property Details

:

30 industrial lots held under the Geran Title of 28499 to 28528 for a total land area of 68,757 sq. metre, located at Mukim Taboh Naning, Daerah Alor Gajah, State of Melaka (“the Property”).

Purchase Price

:

Ringgit Malaysia Twenty-Two Million Two Hundred Two Thousand Eight Hundred Twenty-Six (RM22,202,826.00) only. The purchase price shall be inclusive of infrastructure works, which shall comprise earthworks (including site clearing), excavation works (including stripping, cut-to-fill, cut-to-dispose, drain excavation, and sumps), filling works inclusive of embankments and building platforms, roadworks construction, water supply, sewerage systems, and electrical and telecommunication supply.

Initial Deposit

:

Upon full execution of Sale and Purchase Agreement (“SPA”), Encore Merger shall deposit 10% of the purchase price equivalent to Ringgit Malaysia Two Million Two Hundred Twenty Thousand Two Hundred Eighty-Two and Sixty Cents (RM2,220,282.60) only to Magical Era as a non-refundable deposit. The balance payment will be made in progressive payment in tandem with the completion timeline of the infrastructure works schedule by Magical Era and mutually agreed by the Parties.

Feasibility and Investigation Period

:

Encore Merger shall have until 15 November 2025 to perform all feasibility and due diligence investigations regarding the Property.

Offer Expiration

:

If the SPA is not executed by Magical Era, this LOI shall be automatically terminated on 30 November 2025.

 

Information on Encore Merger

 

Encore Merger is a company incorporated in Malaysia under the Companies Act, 1965 on 29 March 2010. The Director and shareholder of Encore Merger is Ang Choon Hooi. The paid-up capital of Encore Merger is 1 million ordinary shares equivalent to RM1,000,000.

 

The principal activities of Encore Merger are construction, sale of construction materials and hardware.

 

The acceptance of LOI is not expected to have any material effect on the issued and paid-up capital of the Company and the substantial shareholders’ shareholding. The LOI contains many of the essential points regarding the transaction described herein, it is not intended to be legally enforceable agreement, and no cause of action shall arise in respect of the signing hereof.

 

None of the directors and/or substantial shareholders of Jetson or persons connected with the directors and/or substantial shareholders have any interest, direct or indirect, in the LOI.

 

A detailed announcement on the proposed acquisition of the Property by Encore Merger will be made upon the signing of the definitive SPA.

 

 

This announcement is dated 6 November 2025.



Announcement Info

Company Name KUMPULAN JETSON BERHAD
Stock Name JETSON
Date Announced 06 Nov 2025
Category General Announcement for PLC
Reference Number GA1-05112025-00037


View original announcement