【IOIPG 5249 交流专区】IOI产业

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Type	Announcement
Subject	OTHERS
Description	IOI Properties Group Berhad ("IOIPG" or the "Company")- Revaluation in Compliance with Malaysian Financial Reporting Standard (MFRS) 140
The Board of Directors (the “Board”) of IOIPG is pleased to announce that the Board has approved the incorporation of the net gain arising from fair value adjustment of the investment properties of the Group in its unaudited fourth quarter results for the financial period ended 30 June 2024. Please refer to the attachment for details of the announcement. This announcement is dated 28 August 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3478316

Attachments IOIPG-Revaluation in compliance with MFRS140 - 28.8.2024.pdf

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Type	Announcement
Subject	OTHERS
Description	IOI Properties Group Berhad ("IOIPG") (I)        Decision on Proposal Letter received from Group Chief Executive Officer; and (II)        Entry into Project Management Agreement and Property Management Agreement
Reference is made to the announcements dated 25 June 2024 and 26 June 2024 (“Announcements”) in relation to the “Receipt of Proposal Letter from Group Chief Executive Officer”. Unless otherwise defined, the abbreviations used herein shall have the same meaning as those set out in the Announcements. The Board of IOIPG (“Board”) wishes to announce the following:- (a) The Board (save for Lee Yeow Seng (“LYS”) and Dato’ Lee Yeow Chor, who have continued to abstain on all deliberations), having considered all aspects of the proposal for IOIPG to acquire Shenton 101 Pte Ltd (“Shenton 101”) for the redevelopment of “Shenton House”, a commercial property located at 3 Shenton Way, 068805 Singapore (“Shenton House”) (“Proposal”), and in particular after taking into account the ongoing capital commitments of IOIPG and its group of companies (“IOIPG Group”) arising amongst others from recent acquisition transactions announced by the Company, has decided not to accept the offer to acquire the Shenton 101 as set out in the Proposal. (b) The Company has, through its subsidiaries, on 28 August 2024 entered into the following management agreements with Shenton 101 to address and mitigate the potential conflict of interest situation arising from the role of LYS in the redevelopment of Shenton House through Shenton 101, which may potentially interfere with or be in conflict with the interest of the Company as the IOIPG Group is also involved in the similar business of property development and property investment in Singapore:- (i) Project Management Agreement entered into between Shenton 101 and Multi Wealth (Singapore) Pte Ltd, an indirect 99.9% owned subsidiary of the Company (“Multi Wealth”), for the appointment of Multi Wealth as the sole and exclusive project manager with respect to the redevelopment of all those 204 strata units and common property under the Management Corporation Strata Title Plan No. 637 in the development known as “Shenton House” located in the Republic of Singapore and bearing the title details of Lot No. TS30-79K, comprised in the Certificate of Title Volume 59 Folio 133 (collectively, the “Property”) (“Project”) and to manage and carry out the implementation of the Project; and (ii) Property Management Agreement entered into between Shenton 101 and Wealthy Link Pte Ltd, a wholly-owned subsidiary of the Company (“Wealthy Link”), for the appointment of Wealthy Link as the sole and exclusive property manager of the Property. Please refer to the attachment for further details. This announcement is dated 28 August 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3478369

Attachments (16) IOIPG - Announcement Attachment - 28 August 2024.pdf

Type	Announcement
Subject	OTHERS
Description	IOI Properties Group Berhad ("IOIPG") (I)        Decision on Proposal Letter received from Group Chief Executive Officer; and (II)        Entry into Project Management Agreement and Property Management Agreement
Reference is made to the announcement dated 28 August 2024 in relation to the “Decision on Proposal Letter received from Group Chief Executive Officer and Entry into Project Management Agreement and Property Management Agreement” (“Announcement”). Unless otherwise defined, the abbreviations used herein shall have the same meaning as those set out in the Announcement. The Board of IOIPG (“Board”) wishes to provide additional information in relation to the basis of computation of the highest percentage ratio for the Management Agreements. For clarity, the highest percentage ratio of approximately 4.83% is computed based on the aggregate value of the consideration, which is estimated at RM67.3 million for the provision of the management services in accordance with the terms of the Management Agreements, over an estimated duration of 12 years, as tabulated below: Stages of Development Estimated Service Period Estimated Value of Consideration (SGD'000) Pre-Redevelopment Period 2 years SGD666 Redevelopment Period 5 years SGD8,520 Post Redevelopment Period 5 years SGD10,246 Total 12 years SGD19,432* ​Note: *           Equivalent to RM67.3 million calculated based on the exchange rate of SGD1.00: RM3.46 Taking into account the above, the highest percentage ratio applicable to the Management Agreements under Paragraph 10.02(g) of the Listing Requirements is approximately 4.83% computed based on IOIPG’s latest audited net profits of RM1.393 billion for the financial year ended 30 June 2023. Save for the entry into the Management Agreements, there were no other transactions between IOIPG and Shenton 101 during the preceding twelve (12) months from the date of the Announcement. This announcement is dated 30 August 2024.

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IOI PROPERTIES GROUP BERHAD

Date of change	01 Oct 2024
Name	MR LEOW WENG SEONG
Age	55
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Professional Qualification Certified Public Accountant Malaysian Institute of Certified Public Accountants (MICPA) 2 Degree Bachelor of Accounting (Honours) University of Malaya
Working experience and occupation	Mr Leow Weng Seong is a member of Malaysian Institute of Accountants.Mr Leow Weng Seong has over thirty (30) years working experience in auditing, finance and accounting, corporate finance and corporate strategies planning, as well as operation management in various industries, inclusive of working experience in China.Before joining IOI Properties Group, he was the Group Chief Financial Officer of Titijaya Land Berhad from December 2021 to September 2024. Prior to this role, he held the position of Head of Finance and Special Project at Eco World Development Group Berhad from May 2017 to May 2021.