SANICHI

0.080

-0.005 (-5.9%)

Proposed disposal of 100% equity interest in Sanichi Property Sdn Bhd ("SPSB"), a wholly-owned subsidiary of the Company ("Proposed Disposal")

SANICHI TECHNOLOGY BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-03112025-00002
Subject Proposed disposal of 100% equity interest in Sanichi Property Sdn Bhd ("SPSB"), a wholly-owned subsidiary of the Company ("Proposed Disposal")
Description 
SANICHI TECHNOLOGY BERHAD ("SANICHI" OR "THE COMPANY")
PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN SANICHI PROPERTY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Query Letter Contents

We refer to your Company’s announcement dated 31 October 2025 in respect of the aforesaid matter (“Announcement”).
 

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1.

Particulars of:

(i) any liabilities, including contingent liabilities, in relation to the Proposed Disposal which remain with Sanichi, together with the details and justification for such arrangements; and

(ii) any guarantees given by Sanichi to the Purchaser or SPSB.

2.

Particulars of the following in relation to the mixed development project in Klebang Malacca (“Project”):

(i) value of the Project; and

(ii) commencement/expected commencement and completion date(s) of the Project.

3.

To quantify the net liability of SPSB as at 30th September 2025 as stated in Section 2.6 of the Announcement and to state whether it is audited.

4.

The intended application of the sale proceeds and the breakdown, including the timeframe for full utilisation of proceeds.

5.

Expected gains or losses to Sanichi Group in relation to the Proposed Disposal.

6.

To state whether the Proposed Disposal is subject to relevant government’s approval or a negative statement.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

Listing

Group Regulation


Cc : Market Surveillance Dept., Securities Commission

1. Particulars of:

 

(i) ​any liabilities, including contingent liabilities, in relation to the Proposed Disposal which remain with Sanichi, together with the details and justification for such arrangements; and

 

Sanichi’s Response:

There are no other liabilities, including contingent liabilities, which will remain with our Group pursuant to the Proposed Disposal.

 

(ii) ​any guarantees given by Sanichi to the Purchaser or SPSB.

 

Sanichi’s Response:

There are no guarantees given by our Group to the Purchaser or SPSB pursuant to the Proposed Disposal.

 

2. Particulars of the following in relation to the mixed development project in Klebang Malacca (“Project”):

 

(i) ​value of the Project; and

 

Sanichi’s Response:

The Gross Development Value for the Project is estimated at RM267 million.

 

(ii) commencement/expected commencement and completion date(s) of the Project.

 

Sanichi’s Response:

The project commenced on 15 June 2017, with an estimated target completion date of 31 December 2025.

 

3. To quantify the net liability of SPSB as at 30th September 2025 as stated in Section 2.6 of the Announcement and to state whether it is audited.

 

Sanichi’s Response:

As at 30 September 2025, the unaudited net liability position of SPSB amounts to RM5,319,611.

 

4. The intended application of the sale proceeds and the breakdown, including the timeframe for full utilisation of proceeds.

 

Sanichi’s Response:

The Disposal Consideration will be used for the following purposes:

Purposes

   Amount (RM)

Expected timeframe for utilization of proceeds

Working capital requirements of Precision Mould division

     465,000

Within 3 months

Estimated expenses for the Proposed Disposal

       35,000

Within 1 month

 

5. Expected gains or losses to Sanichi Group in relation to the Proposed Disposal.

 

Sanichi’s Response:

The estimated gain on disposal is as follows:

 

       Amount (RM)

Disposal Consideration

             500,000

Less: Net Liabilities of SPSB as at 30 September 2025

          5,319,611

Gross gain on disposal of SPSB

          5,819,611

Less:

 

Estimated expenses in relation to the Proposed Disposal

             (35,000)

Estimated net gain on disposal of SPSB

          5,784,611

 

6. To state whether the Proposed Disposal is subject to relevant government’s approval or a negative statement.

 

Sanichi’s Response:

The Proposed Disposal is not subject to any approval from the relevant government authorities.

 

 

This announcement is dated 4 November 2025.


Announcement Info

Company Name SANICHI TECHNOLOGY BERHAD
Stock Name SANICHI
Date Announced 04 Nov 2025
Category General Announcement for PLC
Reference Number GA1-04112025-00032


View original announcement