| Description |
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Further to the announcement of 14 February 2011 and the letter from Bursa Malaysia Securities Berhad (”Bursa Securities”) dated 17 February 2011 in relation to the Proposed Disposal of one freehold industrial land held under Geran Mukim 176A, Lot 251, Mukim Ijuk, Tempat 13th Mile Kepong Road, Daerah Kuala Selangor, Negeri Selangor measuring in area approximately 2.0234 hectares together with a vacant one storey open-sided warehouse erected thereon by GREATPAC SDN BHD (Company No. 229382-K) (”GSB”), a wholly owned subsidiary of Wawasan TKH Holdings Berhad (”WWTKH” or “the Company”) for total cash consideration sum of RM5,563,000.00 only, the Board of Directors of WWTKH wish to provide the following additional informations :-
1. the original cost of investment in the Properties and the date of such investment.
Original Cost (RM)
Freehold Land (Original date of investment for the Land: 16 November 2000) 2,406,344.00
Building (Constructed on August 2005) 1,032,038.00
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3,438,382.00
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2. the approximate age of the buildings.
The age of the building was approximately 6 years.
3. to quantify the latest market value of the landed properties in the surrounding areas which were taken into consideration in arriving at the disposal price of RM5,563,000.
Based on recent leasehold (99 years) industrial land transacted at the neighbouring Taman Industri Alam Jaya in Ijok Kuala Selangor, the average market price was at RM24 per square feet.
4. the justification(s) for the disposal price of RM5,563,000.00
The disposal price of the property was obtained based on aggressive negotiation for a sale consideration which is over and above the latest valuation and net book value. The latest valuation for the Land amounting to RM3.1 million and the net book value of Factory amounting to RM1,115,693 based on the latest unaudited financial statements as at 31 December 2010.
5. the timeframe for full utilisation of the proceeds.
The proceeds is expected to be fully utilised by second quarter 2012. |
| Query Letter Content |
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We refer to your Company’s announcement dated 14 February 2011 in respect of the aforesaid matter.In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
- the original cost of investment in the Properties and the date of such investment.
- the approximate age of the buildings.
- to quantify the latest market value of the landed properties in the surrounding areas which were taken into consideration in arriving at the disposal price of RM5,563,000.
- the justification(s) for the disposal price of RM5,563,000.
- the timeframe for full utilisation of the proceeds.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
SUZALINA HARUN
Head, Issuers
Listing Division
Regulation
WCY/LMN
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax) |
