Announcement on behalf of the Company's subsidiary ZhanCheng Tourism Development Sdn. Bhd. for land acquisition. ｜ Sinyi Realty Inc. ｜ Investor Relations

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2022-12-21

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Announcement on behalf of the Company's subsidiary ZhanCheng Tourism Development Sdn. Bhd. for land acquisition.

Subject：Announcement on behalf of the Company's subsidiary ZhanCheng Tourism Development Sdn. Bhd. for land acquisition.
To which item it meets：paragraph 20
Date of events： 2022/12/21

Statement：
  1. Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City):land located at Kg. Pengalat Besar, situated in Papar, Sabah, Malaysia.
  2. Date of occurrence of the event:2022/12/21
  3. Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price:25.545 hectares(equivalent to 2,749,637 square feet or 77,273.63 ping) Unit price:RM 1,765,238 per hectare(equivalent to RM16.40 per square foot or RM583.55 per ping) Total Transaction price:RM45,093 thousand(equivalent to NT$300,364,473)
  4. Trading counterparty and its relationship with the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be disclosed): counterparty:Treasure Sage Sabah Sdn. Bhd. relationship with the Company:A subsidiary 100% owned by Yuheng Co., Ltd., which holds more than 50% of the Company.
  5. Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company and the trading counterparty, and the previous date and monetary amount of transfer: the reason for choosing the related party:in consideration of the location of lands and its reasonable price. previous owner:WEE GIOK SHUN & WEE WUI NEE, WONG SIEW GUEN, Amylia Edmund and LPL 118 CORPORATION SDN. BHD. relationship with the Company and the counterparty:non-related party the previous date and monetary amount of transfer:2018/12/31~2020/12/30 and the total price is RM42,660 thousand.(deed tax and stamp duty excluded)
  6. Where an owner of the underlying assets within the past five years has been a related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its relationship with the Company at the time of the transaction: not applicable.
  7. Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition):not applicable.
  8. Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions: 1.Pay the deposit RM1,000 thousand after signing the contract. 2.Pay RM3,500 thousand after lodging the caveat. 3.The remaining price will be paid after land transfer. Restrictive convenants in the contract:As to the 3 pieces of land with title deed No.CL025441347, etc., the seller has the obligation to complete the change of land title and aquisition of the ownership of the land within 12 months from the date of signing the contract. Note: 12 pieces of land are included in the transaction.
  9. The manner of deciding on this transaction (such as invitation to tender, price comparison, or price negotiation), the reference basis for the decision on price, and the decision-making unit: Price comparison and negotiation: negotiation of price. Decision making unit: according to the resolution of the Company. The Company referred to the valuation report from certified appraisal firms.
  10. Name of the professional appraisal firm or company and its appraisal price: 1.CBRE(C H Williams Talhar & Wong) RM45,000,000 2.Repro international arrpraisal& KnightFrank Malaysia Sdn. Bhd. RM52,000,000
  11. Name of the professional appraiser: CBRE(C H Williams Talhar & Wong):Sr Cornelius Koh& Jonson Lee Repro international arrpraisal& KnightFrank Malaysia Sdn. Bhd.: Jackie Wu & Sr CHEN YUN NGEN
  12. Practice certificate number of the professional appraiser: Jonson:(108)Bei Shi Gu Zi No000272 Cornelius:V-649 Jackie:(94)Bei Shi Gu Zi No000065 CHEN YUN NGEN:V-665
  13. The appraisal report has a limited price, specific price, or special price:Not applicable.
  14. An appraisal report has not yet been obtained:Not applicable.
  15. Reason for an appraisal report not being obtained:Not applicable.
  16. Reason for any significant discrepancy with the appraisal reports and opinion of the CPA: The trial unit price of the appraisal object adjusted by the comparative difference by two appraiser firms: The unit price is from RM11.27 to 30.45 per square foot, In consideration of the large areas where the evaluation target is located, the unit price of the land transaction decided by the two firms are respectively RM16.37 per square foot(CBRE)and RM18.91 per square foot(REPro), within the range of the trial unit price, which supposed that the evaluation result is still reasonable.
  17. Name of the CPA firm:Licheng Accounting Firm
  18. Name of the CPA:Zhou Cheng-wei
  19. Practice certificate number of the CPA: Taiwan Provincial Capital Certificate No. 4851.
  20. Broker and broker's fee:Not applicable.
  21. Concrete purpose or use of the acquisition or disposal: To develop tourism business.
  22. Any dissenting opinions of directors to the present transaction: No
  23. Whether the counterparty of the current transaction is a related party:Yes
  24. Date of the board of directors resolution:2022/12/21
  25. Date of ratification by supervisors or approval by the audit committee:2022/12/21
  26. The transaction is to acquire a real property or right-of-use asset from a related party:Yes
  27. The price assessed in accordance with the Article 16 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies:NT$ 300,366,385
  28. Where the above assessed price is lower than the transaction price, the price assessed in accordance with the Article 17 of the same regulations:not applicable.
  29. Any other matters that need to be specified:none.

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