|DOMINANT ENTERPRISE BERHAD|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DOMINANT ENTERPRISE BERHAD ("DOMINAN" or "the Company") : Acquisition of Property by Wira Land Development Sdn. Bhd., a Wholly-Owned Subsidiary of the Company
Furtherance to our announcement dated 28 October 2021 in respect of the Acquisition of Property by Wira Land Development Sdn. Bhd., a Wholly-Owned Subsidiary of the Company, the Board of Directors of DOMINAN is pleased to elaborate further on the "Basis of and Justification for the Consideration" as requested by Bursa Malaysia Securities Berhad via its email on 29 October 2021: -
Basis of and Justification for the Consideration
The Company had carried out internal market research by comparing various offers from real estate agents. Overall, available industrial land in the vicinity of Senai Airport City (“SAC”) are selling at similar price, but without infrastructure built in.
In addition, the management had held several reviews to evaluate the potential development of SAC, and believe that SAC’s offer of RM21,189,762.00 for the piece of industrial land with infrastructure built in, is reasonable and fulfills the Company’s investment objective.
This announcement is dated 1 November 2021.