ANNOUNCEMENT
ACOUSTECH BERHAD (“AB” or “the Company”)
PROPOSED DISPOSAL BY FORMOSA PROSONIC TECHNICS SDN BHD (“FPT”) OF A
LEASEHOLD LAND HELD UNDER PM 4012, LOT NO. 40702, BANDAR SULTAN SULAIMAN,
DAERAH KLANG, NEGERI SELANGOR WITH ADDRESS KNOWN AS LOT 2D, JALAN SULTAN
MOHAMED 1, KAWASAN PERINDUSTRIAN BANDAR SULTAN SULAIMAN, 42000 PELABUHAN
KLANG, SELANGOR DARUL EHSAN TOGETHER WITH BUILDINGS CONSTRUCTED THEREON
FOR A CASH CONSIDERATION OF RM11,000,000.00 (“PROPOSED DISPOSAL”)
(REFERRED TO AS “PROPOSED DISPOSAL”)
1.
INTRODUCTION
1.1
The Board of Directors of AB wishes to announce that on 18 January 2016, FPT, a wholly owned
subsidiary of AB had entered into:
(a)
A sale and purchase agreement (“SPA”) with Full Sprint Sdn Bhd (“FS”) for the proposed disposal
a leasehold land with title particulars PM 4012, Lot No. 40702, Bandar Sultan Sulaiman, Daerah
Klang, Negeri Selangor with address known as Lot 2D, Jalan Sultan Mohamed 1, Kawasan
Perindustrian Bandar Sultan Sulaiman, 42000 Pelabuhan Klang, Selangor Darul Ehsan together
with buildings constructed thereon (“Property”) for a cash consideration of RM11,000,000.00
(“Proposed Disposal”)
(b)
A tenancy agreement with FS for the rental of the Property upon completion of the Proposed
Disposal (“Proposed Tenancy Agreement”)
(collectively referred to as “Proposals”)
2.
DETAILS OF THE PROPOSALS
2.1
Proposed Disposal
2.1.1 Salient Terms of SPA
The salient terms of SPA include, amongst others, the following:
(a)
(b)
Conditions Precedent
(1)
FPT and FS (“the Parties”) agree that SPA shall be conditional upon FPT obtaining the
State Authority’s Consent and shall do all things necessary and use its best endeavors to
obtain the State Authority’s Consent including to pay the relevant levies or fees as may be
imposed by the relevant authorities
(2)
In the event that the condition precedent is not fulfilled on or before the date which is six (6)
months from the date of the SPA (or such later date or dates as the Vendor may, from time
to time determine), the Vendor shall be entitled at the Vendor’s discretion by notice in
writing to the Purchaser to continue with the sale and purchase or to terminate the sale and
purchase herein.
(3)
The date of receipt of the State Authority’s Consent by the solicitors shall be the date of
fulfilment of the condition precedent (“CP fulfilment Date”).
Consideration
(1)
The Disposal Consideration shall be RINGGIT
(RM11,000,000.00) only (“Disposal Consideration”).
(2)
Upon execution of the SPA:
(i)
MALAYSIA
ELEVEN
MILLION
a sum of RINGGIT MALAYSIA THREE HUNDRED THIRTY THOUSAND
(RM330,000.00) only (“the RPGT”) equivalent to three per centum (3%) of the
Disposal Consideration shall be paid by the Purchaser to the solicitor as stakeholder
to deal with for the payment of Real Property Gains Tax to the Inland Revenue
Branch, if any;
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(ii)
a sum of RINGGIT MALAYSIA SEVEN HUNDRED AND SEVENTY THOUSAND
(RM770,000.00) only (“Balance Deposit”) equivalent to seven per centum (7%) of
the Disposal Consideration shall be paid by the Purchaser to the Solicitor as
stakeholder the receipt and clearance of the payment of which the Vendor hereby
acknowledge as part payment of the Disposal Consideration (the RPGT and the
Balance Deposit shall be referred to as “Deposit”);
(iii)
the Purchaser shall pay a sum of RINGGIT MALAYSIA NINE MILLION AND NINE
HUNDRED
THOUSAND
(RM9,900,000.00)
only
(“Balance
Disposal
Consideration”) on or before ninety (90) days from the CP Fulfilment Date
(“Completion Date”) to the Solicitor to hold and deal with in accordance with the
applicable provisions of the SPA.
In the event that the Balance Disposal Consideration is not paid to the solicitor by
the Completion Date, the Vendor shall automatically grant the Purchaser an
extension of thirty (30) days or such period of time as agreed between the Parties,
commencing from the Completion Date (“Extended Completion Period”), provided
that the Purchaser shall pay interest to the Vendor at the rate of eight per centum
(8%) per annum, calculated on a day-to-day basis.
(c)
Right to Terminate
Default by Purchaser
(1)
(2)
In the event that the Purchaser shall fail to pay punctually the Disposal Consideration and/or
in the event of any material breach by the Purchaser of any of the provisions of the SPA
and fails to remedy such breach within fourteen (14) days from the date of receipt by the
Purchaser of the Vendor’s written notice specifying the breach and requiring the same to be
remedied, the Vendor shall be entitled:(a)
at the cost and expense of the Purchaser to the remedy of specific performance
against the Purchaser and to all reliefs flowing therefrom; or
(b)
to terminate this Agreement and forfeit the Deposit as agreed liquidated damages.
If the Vendor decides to terminate the SPA, the Purchaser shall upon demand from the
Vendor forthwith:(a)
deliver legal possession of the Said Property to the Vendor (if the Said Property has
already been delivered to the Purchaser) at the Purchaser's own cost and expense;
(b)
deliver to the Vendor a valid and registrable Withdrawal of Private Caveat duly
executed by the Purchaser (in the event that the Purchaser has exercised the
Purchaser’s rights and presented for registration a private caveat against the Said
Property); and
(c)
return or cause to be returned all relevant documents (including without limitation the
Document of Title and the original Transfer to the Vendor) to the relevant parties
(unless such documents are required by the relevant authorities),
in exchange for the refund by the Vendor to the Purchaser of all moneys (save and
except for the amount equivalent to the Deposit) paid towards the account of the
Disposal Consideration whereupon the SPA shall terminate and cease to be of any
further effect.
Default by Vendor
(1)
In the event that the Vendor shall fail, neglect and/or refuse to sell and/or transfer the Said
Property and/or deliver punctually legal possession of the Said Property to the Purchaser in
accordance with the provisions of this Agreement and fails to remedy such breach within
fourteen (14) days from the date of receipt by the Vendor of the Purchaser’s written notice
specifying the breach and requiring the same to be remedied, the Purchaser shall be
entitled:(a)
at the cost and expense of the Vendor to the remedy of specific performance against
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the Vendor and to all reliefs flowing therefrom; or
(b)
(2)
to terminate the SPA and claim a sum equivalent to the Deposit as agreed liquidated
damages from the Vendor.
If the Purchaser decides to terminate the SPA, the Vendor shall upon demand from the
Purchaser forthwith pay to the Purchaser the sum equivalent to the Deposit as liquidated
damages and refund to the Purchaser all moneys (including the Deposit) paid towards the
account of the Disposal Consideration. Upon receipt of such payment, the Purchaser shall:(a)
deliver vacant possession of the Said Property restored to its original state and
condition (as it was prior to delivery to the Purchaser) to the Vendor (if the same
have already been delivered to the Purchaser) at the Purchaser's own cost and
expense (without any rental or compensation begin payable by the Purchaser for the
period the Purchaser is deemed to be in occupation of the Said Property;
(b)
deliver to the Vendor a valid and registrable Withdrawal of Private Caveat duly
executed by the Purchaser (in the event that the Purchaser has exercised the
Purchaser’s rights and has presented for registration a private caveat against the
Said Property); and
(c)
return or cause to be returned all relevant documents to the relevant parties (unless
such documents are required by the relevant authorities),
whereupon the SPA shall terminate and cease to be of any further effect.
2.1.2 Salient terms of the Tenancy Agreement
(1)
FS as the Landlord (“Landlord”) agrees to grant a tenancy and FPT as the Tenant (“Tenant”)
agrees to accept a tenancy from the Rental Commencement Date, namely the date of completion
of the SPA based on a monthly rental of RM68,044.50 only per month or the rate of RM0.80 per
square foot.
(2)
The Tenant hereby covenants with the Landlord as follows:(a)
(b)
To pay the Landlord upon the Rental Commencement Date:(i)
the sum of RM136,089.00 only (the receipt of which the Landlord hereby expressly
acknowledges) being the equivalent of two (2) months of the Monthly Rental as
security deposit for the due observance and performance of the Tenant’s obligations
and liabilities herein this Agreement (hereinafter referred to as the “Security
Deposit”); and
(ii)
a further sum of RM68,044.50 only (the receipt of which the Landlord hereby
expressly acknowledges) as “Utility Deposit”.
to pay and discharge all charges for or in connection with the consumption or use of
telephone, electricity, water and sewerage treatment or other services payable in respect of
the Said Property during the term of this Tenancy or any renewal(s) thereof.
(3)
The Tenant shall keep the interior of the Said Property including the flooring and interior plaster
and other surface material, walls and ceilings and the Landlord’s Fixtures therein, including all
windows, glass, shutters, locks, fastenings, electric wiring and fittings and other fixtures of the
Landlord in upon and attributable to the Said Property and the water closets lavatories and
conveniences of which the Tenant has the exclusive use in clean, good and tenantable repair and
condition.
(4)
The Tenant shall permit the Landlord or their duly authorised agents upon giving 48 hours prior
written notice at all reasonable and convenient times to enter the Said Property and examine the
state of repair and condition thereof and to check and take inventories of the Landlord’s fixtures,
fittings and equipment therein and the Tenant shall repair and make good all defect and wants of
repair thereto as may be necessary in compliance with the Tenant’s obligations under Clause 3.1
herein of which notice in writing shall be given by the Landlord to the Tenant thereunder within ten
(10) days after the giving of such notice provided that in the event the Tenant fails to repair the
same within the time stipulated, the Landlord may proceed to carry out the repairs and the cost of
the same shall be repayable by the Tenant to the Landlord on demand.
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(5)
The Landlord shall ensure that all existing assessments, quit rents and Indah Water charges
payable in respect of the Said Property are paid whenever the same shall become due.
(6)
Upon the Tenant paying the rents hereby reserved and performing and observing all covenants
and agreements herein contained and on the Tenant’s part to be observed and performed, the
Tenant shall peaceably and quietly hold and enjoy the Said Property during the term of this
Tenancy or any renewal(s) thereof without any interruption or disturbance from or by the Landlord
or any person or persons rightfully claiming under or in trust for the Landlord or by any other
person whosoever and howsoever arising.
(7)
The Landlord shall keep the roof, main structure, walls, gutters of the Said Property in good
tenantable repair and condition.
(8)
Offer to Re-Purchase
(a)
(9)
In the event that the Landlord receives an offer to purchase from any interested third party
during the term of the Tenancy and the Landlord has the intention to sell the Said Property,
the Landlord shall first offer in writing to the Tenant the right of first refusal to purchase the
Said Property from the Landlord at the same price and based on the same terms offered by
or to the third party and in this respect, the Landlord shall give notice in writing to the Tenant
to express its intention to sell the Said Property stipulating the terms of sale.
Default by the Tenant
The Landlord and the Tenant hereby agree that:
(a)
if the Monthly Rental hereby reserved or any other payments reserved herein payable to
the Landlord or any part thereof shall be unpaid for a period of seven (7) days after any of
the same shall have become due and payable in accordance with the covenants for
payment herein contained (whether formally demanded or not); or
(b)
if the Tenant commits, permits or suffers to occur any breach or default in the due and
punctual observance and performance of any of the covenants, obligations and provisions
of this Agreement; or
(c)
if the Tenant shall quit or attempt to quit or abandon or deliver vacant possession of the
Said Property at any time prior to the expiration of the First Term or the Renewed Term as
the case may be, for any reason whatsoever other or
(d)
if any distress or execution proceedings is levied against the Tenant; or
(e)
if the Tenant commits any act of bankruptcy or becomes a bankrupt or if the Tenant is a
corporation, a winding-up petition is presented against it (otherwise than for the purpose of
reconstruction or amalgamation); or
(f)
if the Tenant shall make an assignment for the benefit of or enter into any scheme of
composition or arrangement with the Tenant’s creditors; or
(g)
if a receiver or manager of any or part of the Tenant’s assets is appointed;
it shall be lawful for the Landlord at any time thereafter to serve a notice upon the Tenant and it is
hereby mutually agreed that a reasonable time in which to remedy the breach, if the breach is
capable of remedy, is fourteen (14) days and on the expiration of the period specified in the said
forfeiture notice without the breach complained of having been remedied, the Landlord shall be
entitled to the following:(aa)
to the remedy of specific performance against the Tenant and to all reliefs flowing
therefrom at the costs and expense of the Tenant (including solicitors’ fees on solicitors
and client basis) without prejudice to any other remedies that may be available to the
Landlord under applicable laws; or
(bb)
to terminate the Tenancy by notice in writing to the Tenant whereupon the Tenant shall
pay to the Landlord an amount equivalent to the Monthly Rental for the whole unexpired
period of the First Term or any renewed period thereof, as the case may be, as agreed
liquidated damages (hereinafter called the “Agreed Liquidated Damages”).
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(10)
Default by the Landlord
If the Landlord shall commit a material breach of any of the covenants and agreements herein
contained to be kept, observed and performed by the Landlord and such material breach shall
have continued for thirty (30) days after the Landlord receives written notice thereof from the
Tenant, unless the default is remedied within thirty (30) days period thereafter, the Tenant shall
be entitled to the remedy of specific performance of this Agreement against the Landlord and to
all reliefs flowing therefrom without prejudice to any other remedies that may be available to the
Tenant under applicable laws.
(11)
Renewal
The Landlord shall grant to the Tenant an option to renew the Tenancy of the Said Property for
a further term of three (3) years (hereinafter referred to as “the Second Term”) at the prevailing
market rental for buildings and facilities of similar grade and location and subject to Schedule 2
except that the rental shall not be lower than the Renewed Term’s rent and unless agreed
otherwise by both parties, all other terms of the Tenancy contained in this Agreement remaining
unchanged. The Tenant shall confirm the exercise of this option at least one (1) year prior to
the expiry of the First Term’s period. Should the Tenant wish to pre-terminate the tenancy
during the Second Term, the Tenant may do so by serving the Landlord three (3) months
advance written notice.
2.1.3 Information on the Property
The Property is situated in an industrial area known as Kawasan Perusahaan Bandar Sultan Suleiman
with address known as Lot 2D, Jalan Sultan Mohamed 1, Kawasan Perindustrian Bandar Sultan
Sulaiman, 42000 Pelabuhan Klang, Selangor Darul Ehsan. It has a land area of 17,471 square meters
(188,057.84 square feet). The Property is located about 25.1 kilometres to the south-west of Shah Alam
Town Centre and 15 kilometres of Klang Town Centre whilst Kuala Lumpur City Centre is situated about
56 kilometres to the south-west and accessible from the Klang Town Centre via Jalan Kapar.
The immediate neighbourhood of the Property is predominantly industrial in character. Kawasan
Perusahaan Bandar Sultan Suleiman is an established estate situated on the north-western flank of Port
Klang and formerly known as Taiwanese Industrial Park. The surrounding developments comprises a
mixture of residential, commercial and industrial in character, consisting of terraced houses, apartments,
shop-offices and detached factories.
(1)
(2)
Details of the title to the Property are as follows:
Title No.
Lot No.
Town
District
State
Land Area
Category of
Land Use
Registered Owner
Tenure
Encumbrances
Other
Endorsement
Express Condition
:
:
:
:
:
:
:
PM 4012
Lot No. 40702
Bandar Sultan Sulaiman
Klang
Selangor
17,471 square metres (188,057.84 square feet)
Perusahaan/Perindustrian
:
:
:
:
Formosa Prosonic Technics Sdn Bhd
Leasehold for 99 years, term expiring on 21 September 2093.
Nil
Nil
:
Tanah yang diberi milik ini tidak boleh dipindah milik, digadai atau
dipajak melainkan dengan kebenaran Pihak Berkuasa Negeri.
Address
:
Lot 2D, Jalan Sultan Mohamed 1, Kawasan Perindustrian Bandar
Sultan Sulaiman, 42000 Pelabuhan Klang, Selangor Darul Ehsan
The buildings comprised within the Property consists of:
Building
Four (4) Storey Office
Factory
Approximate Gross Floor
Area
3,354.00 square metres
(36,102.46 square feet)
4,360.50 square metres
(46,936.42 square feet)
Approximate Net Floor
Area
2,708.00 square metres
(29,148.91 square feet)
4,032.00 square metres
(43,400.45 square feet)
Approximate
Age
20
22 - 24
5
Warehouse
Basketball Hall
Canteen
Guardhouse
Total
618.80 square metres
(6,660.76 square feet)
1,440.00 square metres
(15,500.16 square feet)
931.00 square metres
(10,021.28 square feet)
19.00 square metres
(204.52 square feet)
10,723.30 square metres
(115,425.60 square feet)
550.00 square metres
(5,920.20 square feet)
1,215.00 square metres
(13,078.26 square feet)
736.00 square metres
(7,922.30 square feet)
14.86 square metres
(159.95 square feet)
9,255.86 square metres
(99,630.07 square feet
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21
21
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2.1.4 Basis and justification on arriving at Disposal Consideration
The Disposal Consideration was arrived at on a ‘willing buyer-willing seller’ basis after taking into
consideration the market valuation on the Property carried out by Messrs Laurelcap Sdn Bhd
(“Laurelcap”), an independent firm of registered valuers, appointed by FPT which assessed the market
value of Property at RM11,000,000.00 using the Comparison Method and Investment Approach of
valuation.
2.1.5 Method of Valuation of the Property
Laurelcap had appraised the Property by using the Comparison Method of valuation. This method
involves comparing the Property with recently transacted properties of a similar nature or offers for
sale/rental of similar properties in the area. Adjustments are then made for differences in location, size
and shape of the lot, size, condition and design of the building, site facilities available, market conditions
and other factors in order to arrive at a common basis for comparison.
Laurelcap also applied the Investment Approach. In the Investment Approach, the capital value is derived
from an estimate of the market rental, which the subject property can reasonably be let for. Outgoings or
operating expenses, such as repairs and maintenance, insurance and management are then deducted
from the annual rental income. The net annum rental income is capitalized at an appropriate current
market yield to arrive at its indicative capital value.
The Property was inspected by Laurelcap on 9 November 2015. Laurelcap is of the opinion that the total
market value of Property is RM11,000,000.00 in its existing physical condition with vacant possession and
subject to its title being free from encumbrances, good, marketable and registrable.
2.1.6 Estimated gain arising from the Proposed Disposal
Based on the audited consolidated financial results for financial year ended 31 December 2014, AB and
its subsidiary is expected to realise an estimated one-off net gain (after taxation) of approximately
RM151,791.00 in relation to the Proposed Disposal as set out below:
RM
11,000,000.00
10,748,209
100,000
Disposal Consideration
Audited NBV as at 31 December 2014
Estimated Expenditure
Estimated Net Gain from Proposed Disposal
151,791
2.1.7 Original Cost of Investment
The breakdown of the dates and original cost of investment for Property is set out below:
Details of Property
Date of
Investment
Land and buildings
1992-1996
3.
INFORMATION ON THE PURCHASER AND VENDOR
3.1
FPT
Original Cost of
Investment
RM
13,304,443
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FPT is a wholly-owned subsidiary of AB with its registered office at Unit 30-01, Level 30, Tower A, Vertical
Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur. FPT was
incorporated on 16 June 1992. The issued and paid-up share capital of FPTSB is RM33,300,000
comprising 33,300,000 ordinary shares of RM1.00 each. The principal business of FPTSB is
manufacturing of speaker units. The Directors of FPT are Su Cheng Tao and Cheong Hong Yip.
3.2
FS
FS is a private company limited by shares incorporated in Malaysia and with its registered office at Unit
30-01, Level 30, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi,
59200 Kuala Lumpur. FS was incorporated on 28 June 2011. The issued and paid-up share capital of FS
is RM2.00 comprising 2 ordinary shares of RM1.00 each. The principal business of FS is trading and
investment holding. The Directors of FS are Wu Swee Ngor and Lue Lee Ying.
4.
UTILISATION OF DISPOSAL PROCEEDS
The Disposal Consideration is expected to be utilised in the following manner:
Proposed utilisation of Disposal Consideration:
RM’ million
Acquisition of factory
Estimated expenses in relation to Proposals*
Rental payments
Working Capital
Total
Amount
Expected
timeframe for
utilisation
RM5,000,000.00
RM100,000.00
RM2,500,000
RM3,400,000.00
RM11,000,000.00
3 years
4 months
3 years
1 year
* The estimated expenses consist of professional fees, fees payable to authorities, taxes and other miscellaneous
expenses
5.
RATIONALE FOR THE PROPOSED DISPOSAL
Since the disposal of the manufacturing assets in the Sungai Petani plant by FPT in 2015, FPT has
ceased a major part of its operations in Sungai Petani. In turn, FPT has consolidated its manufacturing
activity in its main location in Port Klang with a view to improving productivity and efficiency. Following
from this, the Company was able to rationalise the Group’s asset by helping to reduce excess
manufacturing capacity to cope with the anticipated drop in demand and improve operational efficiency.
Upon consolidation of its manufacturing operations, the management is of the opinion that the current
manufacturing space layout within the Property is not ideal for the current capacity and production
undertaken by the Group. In this regard, the management has decided to look at possible relocation of the
manufacturing operations by first disposing the Property under a sale and lease back arrangement where
upon completion of the SPA, FPT will be permitted to rent the Property for its current manufacturing
operations until the expiry of the rental term or extended rental term, as the case may be, while
management scouts for alternative locations. Under this arrangement, FPT will be able to immediately
unlock the value of the Property and free up resources for the Group to scout for more appropriate
locations to house its manufacturing operations. Given the current subdued property market conditions
and negative economic sentiments, management is of the opinion that it is better for the Property to be
disposed to the Purchaser who has agreed to pay the Property at market valuation and accept the lease
back arrangement rather than delay this option to a later date when there is no certainty that the property
market will improve in the near term nor will there be better offer from potential purchasers given the
depressed economy and negative economic outlook in Malaysia.
Given the above, the Board believes that the Proposed Disposal will enable the Company to unlock and
realise the value and capital appreciation of the Property and enable AB to realise an estimated one-off
gain (after taxation) of approximately RM152,000.
The proceeds arising from the Proposed Disposal is expected to enhance the liquidity position of the
Company and provide financing for any relocation which may be undertaken in the future.
6.
FINANCIAL EFFECTS OF THE PROPOSALS
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6.1
Share Capital and Substantial Shareholders’ Shareholdings
The Proposals are not expected to have any effect on the issued and paid-up share capital and the
substantial shareholders’ shareholdings of the Company.
6.2
Earnings Per Share
The Proposals will result in an estimated one-off gain on disposal of approximately RM152,000. The
Proposals will result in a gain of approximately RM0.09 sen per AB’s Share for the financial year ending
31 December 2016.
6.3
Net Assets Per Share And Gearing
The Proposals are not expected to have any material effect on the net assets per share and gearing of AB
Group for the financial year ending 31 December 2016.
7.
PERCENTAGE RATIO
The highest percentage ratio applicable to the Proposed Disposals pursuant to paragraph 10.02(g) of the
Main Market Listing Requirements is approximately 10.26% based on the latest audited consolidated
financial statements of the Company for the financial year ended 31 December 2014.
8.
CASH COMPANY OR PRACTICE NOTE 17 (“PN 17”) COMPANY
The Proposals will not result in AB becoming a cash company or a PN17 company as defined under the
Listing Requirements.
9.
DIRECTORS AND/OR MAJOR SHAREHOLDERS INTEREST AND PERSONS CONNECTED WITH
THEM
None of the Directors and/ or major shareholders of AB or persons connected to them has any interest,
direct or indirect, in the Proposals.
10.
ESTIMATED TIMEFRAME FOR COMPLETION
Barring unforeseen circumstances, the Proposed Disposals are expected to be completed by the 2
quarter of 2016.
11.
nd
APPROVALS REQUIRED
Other than the fulfillment of conditions precedent set out above, the Proposed Disposal is not subject to
approval from any other authority. The Proposed Disposal is not subject to the approval of the
shareholders of the Company. The Company expects to submit the application to the State Authority
within 1 month from the date of this announcement.
12.
DIRECTORS’S RECOMMENDATION
The Directors of AB, after having considered all aspects of the Proposals, including but not limited to the
rationale, salient terms of the SPA and Tenancy, financial effects and the valuation of the Property is of
the opinion that the Proposals are in the best interest of the Group.
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13.
DOCUMENTS AVAILABLE FOR INSPECTION
The SPA and Tenancy may be inspected at the Registered Office of the Company at Unit 30-01, Level 30,
Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur
during normal business hours from Monday to Friday (except public holidays) for a period of three (3)
months from the date of this announcement.
This Announcement is dated 18 January 2016
9