OTHERS Pembinaan Gejati Sdn Bhd ("Gejati"), a wholly owned subsidiary of Southern Acids (M) Berhad ("the Company" or "SAB"), has allowed Bandar Rimbayu Sdn Bhd ("BRSB"), a member of IJM Corporation Berhad group, to construct and maintain a 2.2 km part of a 9.0 km multi-connectivity access road on a small portion (of approximately 20.83 acres) of an estate land (of approximately 644 acres operationally known as "Thangamallay Estate") held under Gejati.
| SOUTHERN ACIDS (M) BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | Pembinaan Gejati Sdn Bhd ("Gejati"), a wholly owned subsidiary of Southern Acids (M) Berhad ("the Company" or "SAB"), has allowed Bandar Rimbayu Sdn Bhd ("BRSB"), a member of IJM Corporation Berhad group, to construct and maintain a 2.2 km part of a 9.0 km multi-connectivity access road on a small portion (of approximately 20.83 acres) of an estate land (of approximately 644 acres operationally known as "Thangamallay Estate") held under Gejati. |
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Reference is made to the Company's announcement dated 23 August 2016, 28 June 2021 and 23 June 2023 ("Previous Announcements"), wherein the Company had addressed certain queries raised by the Company's shareholders on developments relating to the Thangamallay Estate.
As stated in the Previous Announcements, Gejati will eventually surrender the portion of land to the local authorities.
The Company wishes to update that Gejati has on 12 March 2026 signed a Surrender Agreement with BRSB, for an early surrender of a portion of land where the 1,150m of the 2.2km multi-connectivity access road is situated to the relevant authorities, in consideration for the payment by BRSB of an early surrender incentive of RM13.0 million. The surrender of the portion of land, at the request of BRSB, is conditional on the approval of the state government and relevant bodies.
The maintenance and repair costs of the multi-connectivity access road are to be borne by BRSB, and BRSB has agreed to indemnify Gejati against any claim, liability, duty and/or obligation arising in respect of the construction and use of the road.
This announcement is dated 12 March 2026. |
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Announcement Info
| Company Name | SOUTHERN ACIDS (M) BERHAD |
| Stock Name | SAB |
| Date Announced | 12 Mar 2026 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12032026-00017 |