INFOTEC - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Appointment
Designation: Director
Directorate: Independent & Non Executive
Name: Law Seeh Key
Age: 38
Nationality: Malaysian
Qualifications: Diploma of Science in Information System and Certificate in Accounting with Computing - Tunku Abdul Rahman College, KL.
Bachelor of Science in Information System - Campbell University, North Carolina, USA.
Working experience and occupation: 1996 - 2000 as Business Development Manager/Director at IBI Systems (M) Sdn. Bhd.
2000 - 2007 as Marketing Director/Founder at Softkey E-Solution Sdn. Bhd.
2007 - Now as Chief Executive Officer and Co-Founder of SecuMetric Technology Sdn. Bhd. - a joint venture company between Softkey and a China's leading smart card factory. SecureMetric is headquartered in Kuala Lumpur, with subsidiaries in Hanoi, Ho Chi Minh City, Jakarta and Singapore together with more than 20 channel partners worldwide.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Appointment
Designation: Director
Directorate: Independent & Non Executive
Name: Law Seeh Key
Age: 38
Nationality: Malaysian
Qualifications: Diploma of Science in Information System and Certificate in Accounting with Computing - Tunku Abdul Rahman College, KL.
Bachelor of Science in Information System - Campbell University, North Carolina, USA.
Working experience and occupation: 1996 - 2000 as Business Development Manager/Director at IBI Systems (M) Sdn. Bhd.
2000 - 2007 as Marketing Director/Founder at Softkey E-Solution Sdn. Bhd.
2007 - Now as Chief Executive Officer and Co-Founder of SecuMetric Technology Sdn. Bhd. - a joint venture company between Softkey and a China's leading smart card factory. SecureMetric is headquartered in Kuala Lumpur, with subsidiaries in Hanoi, Ho Chi Minh City, Jakarta and Singapore together with more than 20 channel partners worldwide.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
INFOTEC - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Resignation
Designation: Director
Directorate: Independent & Non Executive
Name: Ooi Giap Ch'ng
Age: 51
Nationality: Malaysian
Qualifications: 1983 - Bachelor of Economics from the Australian National University.
1985 - Bachelor of Laws and entered on the Roll of Barrister and Solicitors of the Supreme Court of the Australian Capital Territory.
1987 - Called to the High Court of Malaya as an Advocate and Solicitor.
Working experience and occupation: He is a partner of Messrs Abdullah, Ooi & Chan, a firm founded by him since 1988. He has vast experience in the field of legal services over 20 years, mainly in the area of commercial & company litigation, property conveyance, banking and corporate services for financial institutions and public listed companies, corporate restructuring, listing and IPO, and mergers and acquisitions.
Directorship of public companies (if any): Meda Inc. Berhad
CME Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Resignation
Designation: Director
Directorate: Independent & Non Executive
Name: Ooi Giap Ch'ng
Age: 51
Nationality: Malaysian
Qualifications: 1983 - Bachelor of Economics from the Australian National University.
1985 - Bachelor of Laws and entered on the Roll of Barrister and Solicitors of the Supreme Court of the Australian Capital Territory.
1987 - Called to the High Court of Malaya as an Advocate and Solicitor.
Working experience and occupation: He is a partner of Messrs Abdullah, Ooi & Chan, a firm founded by him since 1988. He has vast experience in the field of legal services over 20 years, mainly in the area of commercial & company litigation, property conveyance, banking and corporate services for financial institutions and public listed companies, corporate restructuring, listing and IPO, and mergers and acquisitions.
Directorship of public companies (if any): Meda Inc. Berhad
CME Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
INFOTEC - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Law Seeh Key
Age: 38
Nationality: Malaysian
Qualifications: Diploma of Science in Information System and Certificate in Accounting with Computing - Tunku Abdul Rahman College, KL.
Bachelor of Science in Information System - Campbell University, North Carolina, USA.
Working experience and occupation: 1996 - 2000 as Business Development Manager/Director at IBI Systems (M) Sdn. Bhd.
2000 - 2007 as Marketing Director/Founder at Softkey E-Solution Sdn. Bhd.
2007 - Now as Chief Executive Officer and Co-founder of SecuMetric Technology Sdn. Bhd. - a joint venture company between Softkey and a China's leading smart card factory. SecureMetric is headquartered in Kuala Lumpur, with subsidiaries in Hanoi, Ho Chi Minh City, Jakarta and Singapore together with more than 20 channel partners worldwide.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chong Ying Choy - Chairman (Independent Non-Executive Director)
Lee Chee Kheng - Member (Independent Non-Executive Director)
Law Seeh Key - Member (Independent Non-Executive Director)
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Law Seeh Key
Age: 38
Nationality: Malaysian
Qualifications: Diploma of Science in Information System and Certificate in Accounting with Computing - Tunku Abdul Rahman College, KL.
Bachelor of Science in Information System - Campbell University, North Carolina, USA.
Working experience and occupation: 1996 - 2000 as Business Development Manager/Director at IBI Systems (M) Sdn. Bhd.
2000 - 2007 as Marketing Director/Founder at Softkey E-Solution Sdn. Bhd.
2007 - Now as Chief Executive Officer and Co-founder of SecuMetric Technology Sdn. Bhd. - a joint venture company between Softkey and a China's leading smart card factory. SecureMetric is headquartered in Kuala Lumpur, with subsidiaries in Hanoi, Ho Chi Minh City, Jakarta and Singapore together with more than 20 channel partners worldwide.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chong Ying Choy - Chairman (Independent Non-Executive Director)
Lee Chee Kheng - Member (Independent Non-Executive Director)
Law Seeh Key - Member (Independent Non-Executive Director)
INFOTEC - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Resignation
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Ooi Giap Ch'ng
Age: 51
Nationality: Malaysian
Qualifications: 1983 - Bachelor of Economics from the Australian National University.
1985 - Bachelor of Laws and entered on the Roll of Barrister and Solicitors of the Supreme Court of the Australian Capital Territory.
1987 - Called to the High Court of Malaya as an Advocate and Solicitor.
Working experience and occupation: He is a partner of Messrs Abdullah, Ooi & Chan, a firm founded by him since 1988. He has vast experience in the field of legal services over 20 years, mainly in the area of commercial & company litigation, property conveyance, banking and corporate services for financial institutions and public listed companies, corporate restructuring, listing and IPO, and mergers and acquisitions.
Directorship of public companies (if any): Meda Inc. Berhad
CME Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chong Ying Choy - Chairman (Independent Non-Executive Director)
Lee Chee Kheng - Member (Independent Non-Executive Director)
Company Name: INFORTECH ALLIANCE BERHAD (ACE Market)
Stock Name: INFOTEC
Date Announced: 13/10/2010
Announcement Detail:
Date of change: 13/10/2010
Type of change: Resignation
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Ooi Giap Ch'ng
Age: 51
Nationality: Malaysian
Qualifications: 1983 - Bachelor of Economics from the Australian National University.
1985 - Bachelor of Laws and entered on the Roll of Barrister and Solicitors of the Supreme Court of the Australian Capital Territory.
1987 - Called to the High Court of Malaya as an Advocate and Solicitor.
Working experience and occupation: He is a partner of Messrs Abdullah, Ooi & Chan, a firm founded by him since 1988. He has vast experience in the field of legal services over 20 years, mainly in the area of commercial & company litigation, property conveyance, banking and corporate services for financial institutions and public listed companies, corporate restructuring, listing and IPO, and mergers and acquisitions.
Directorship of public companies (if any): Meda Inc. Berhad
CME Group Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chong Ying Choy - Chairman (Independent Non-Executive Director)
Lee Chee Kheng - Member (Independent Non-Executive Director)
GENETEC - GENETEC TECHNOLOGY BERHAD ("GENETEC" OR "COMPANY") - Proposed Acquisition of Property
Announcement Type: General Announcement
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: GENETEC TECHNOLOGY BERHAD (ACE Market)
Stock Name: GENETEC
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: GENETEC TECHNOLOGY BERHAD ("GENETEC" OR "COMPANY")
- Proposed Acquisition of Property
Contents: On behalf of the Board of Directors of Genetec ("Board"), MIMB Investment Bank Berhad ("MIMB") wishes to announce that CLT Engineering Sdn Bhd ("CLT" or "Purchaser"), a 51%-owned subsidiary of Genetec, had on 13 October 2010 entered into a conditional sale and purchase agreement ("SPA") with Mr. Yap Keong Wah ("Vendor") for the proposed acquisition of a piece of leasehold industrial land measuring approximately 8,094 square meters and held under H.S.(M) 5505, Lot No. PT 11734, Tempat Sungai Penaga, Mukim Damansara, Daerah Petaling, Negeri Selangor, together with the buildings erected thereon ("Property"), from the Vendor for a total cash consideration of RM11.5 million ("Proposed Acquisition").
Please refer to the attached file for the details of the Proposed Acquisition.
This announcement is dated 13 October 2010.
Attachments: Genetec - Proposed Acquisition.pdf
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: GENETEC TECHNOLOGY BERHAD (ACE Market)
Stock Name: GENETEC
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: GENETEC TECHNOLOGY BERHAD ("GENETEC" OR "COMPANY")
- Proposed Acquisition of Property
Contents: On behalf of the Board of Directors of Genetec ("Board"), MIMB Investment Bank Berhad ("MIMB") wishes to announce that CLT Engineering Sdn Bhd ("CLT" or "Purchaser"), a 51%-owned subsidiary of Genetec, had on 13 October 2010 entered into a conditional sale and purchase agreement ("SPA") with Mr. Yap Keong Wah ("Vendor") for the proposed acquisition of a piece of leasehold industrial land measuring approximately 8,094 square meters and held under H.S.(M) 5505, Lot No. PT 11734, Tempat Sungai Penaga, Mukim Damansara, Daerah Petaling, Negeri Selangor, together with the buildings erected thereon ("Property"), from the Vendor for a total cash consideration of RM11.5 million ("Proposed Acquisition").
Please refer to the attached file for the details of the Proposed Acquisition.
This announcement is dated 13 October 2010.
Attachments: Genetec - Proposed Acquisition.pdf
PRIVA - PRIVASIA TECHNOLOGY BERHAD ("PTB") DEALINGS DURING OUTSIDE CLOSED PERIOD
Announcement Type: General Announcement
Company Name: PRIVASIA TECHNOLOGY BERHAD (ACE Market)
Stock Name: PRIVA
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: PRIVASIA TECHNOLOGY BERHAD ("PTB")
DEALINGS DURING OUTSIDE CLOSED PERIOD
Contents: Pursuant to Paragraph 14.09(a) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, we wish to announce that Mr Andre Anthony A/L Hubert Rene, the Executive Director of PTB, has given notice of his dealings in the securities of PTB during outside closed period as set out in the table below.
This announcement is dated 13 October 2010.
Company Name: PRIVASIA TECHNOLOGY BERHAD (ACE Market)
Stock Name: PRIVA
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: PRIVASIA TECHNOLOGY BERHAD ("PTB")
DEALINGS DURING OUTSIDE CLOSED PERIOD
Contents: Pursuant to Paragraph 14.09(a) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, we wish to announce that Mr Andre Anthony A/L Hubert Rene, the Executive Director of PTB, has given notice of his dealings in the securities of PTB during outside closed period as set out in the table below.
This announcement is dated 13 October 2010.
SUNZEN - SUNZEN BIOTECH BERHAD ("Sunzen" or "the Company") - Change of Sponsor
Announcement Type: General Announcement
Company Name: SUNZEN BIOTECH BERHAD (ACE Market)
Stock Name: SUNZEN
Date Announced: 13/10/2010
Announcement Detail:
Admission Sponsor: PM Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: SUNZEN BIOTECH BERHAD ("Sunzen" or "the Company")
- Change of Sponsor
Contents: The Board of Directors of Sunzen wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") has vide its letter dated 12 October 2010, granted the approval on the Company's application for the termination of Public Investment Bank Berhad as sponsor of the Company and to appoint PM Securities Sdn Bhd as the new sponsor of the Company with immediate effect. Accordingly, Bursa Securities has also granted the Company a waiver from complying with Rule 4.19(d)(ii) of the ACE Market Listing Requirements.
This announcement is dated 13 October 2010.
Company Name: SUNZEN BIOTECH BERHAD (ACE Market)
Stock Name: SUNZEN
Date Announced: 13/10/2010
Announcement Detail:
Admission Sponsor: PM Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: SUNZEN BIOTECH BERHAD ("Sunzen" or "the Company")
- Change of Sponsor
Contents: The Board of Directors of Sunzen wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") has vide its letter dated 12 October 2010, granted the approval on the Company's application for the termination of Public Investment Bank Berhad as sponsor of the Company and to appoint PM Securities Sdn Bhd as the new sponsor of the Company with immediate effect. Accordingly, Bursa Securities has also granted the Company a waiver from complying with Rule 4.19(d)(ii) of the ACE Market Listing Requirements.
This announcement is dated 13 October 2010.
ASIABIO - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: M & A SECURITIES SDN BHD
Company Name: ASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market)
Stock Name: ASIABIO
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY")
(I) PROPOSED DISPOSAL OF 5,000,000 ORDINARY SHARES OF RM1.00 EACH IN GRAND INIZIO SDN BHD ("GI"), REPRESENTING 19.31% EQUITY INTEREST IN GI HELD BY ASIA BIOENERGY RESEARCH SDN BHD ("ABR"), A WHOLLY-OWNED SUBSIDIARY OF ABT TO MLABS SYSTEMS BERHAD ("MLABS") FOR A TOTAL CONSIDERATION OF RM15,366,795, TO BE SATISFIED VIA THE ISSUANCE OF 153,667,950 NEW ORDINARY SHARES OF RM0.10 EACH IN MLABS TO ABR
(II) PROPOSED PRIVATE PLACEMENT OF UP TO 118,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN ABT REPRESENTING APPROXIMATELY UP TO 30.03% OF THE ENLARGED ISSUED AND PAID-UP CAPITAL OF ABT
(COLLECTIVELY, THE "PROPOSALS")
Contents: M&A Securities Sdn Bhd on behalf of the Company wishes to announce that an Extraordinary General Meeting of ABT will be held at Dewan Seroja, Kelab Golf Perkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur on Friday, 29 October 2010 at 10.30 a.m. or at any adjournment thereof or the purpose of considering and if thought fit to pass the resolutions pertaining to the Proposals.
Kindly refer to the attachment for further details.
This announcement is dated 13 October 2010.
Attachments: ASIA BIO_NST.pdf
Submitting Merchant Bank: M & A SECURITIES SDN BHD
Company Name: ASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market)
Stock Name: ASIABIO
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY")
(I) PROPOSED DISPOSAL OF 5,000,000 ORDINARY SHARES OF RM1.00 EACH IN GRAND INIZIO SDN BHD ("GI"), REPRESENTING 19.31% EQUITY INTEREST IN GI HELD BY ASIA BIOENERGY RESEARCH SDN BHD ("ABR"), A WHOLLY-OWNED SUBSIDIARY OF ABT TO MLABS SYSTEMS BERHAD ("MLABS") FOR A TOTAL CONSIDERATION OF RM15,366,795, TO BE SATISFIED VIA THE ISSUANCE OF 153,667,950 NEW ORDINARY SHARES OF RM0.10 EACH IN MLABS TO ABR
(II) PROPOSED PRIVATE PLACEMENT OF UP TO 118,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN ABT REPRESENTING APPROXIMATELY UP TO 30.03% OF THE ENLARGED ISSUED AND PAID-UP CAPITAL OF ABT
(COLLECTIVELY, THE "PROPOSALS")
Contents: M&A Securities Sdn Bhd on behalf of the Company wishes to announce that an Extraordinary General Meeting of ABT will be held at Dewan Seroja, Kelab Golf Perkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur on Friday, 29 October 2010 at 10.30 a.m. or at any adjournment thereof or the purpose of considering and if thought fit to pass the resolutions pertaining to the Proposals.
Kindly refer to the attachment for further details.
This announcement is dated 13 October 2010.
Attachments: ASIA BIO_NST.pdf
AMPROP - General Announcement
Announcement Type: General Announcement
Company Name: AMCORP PROPERTIES BERHAD
Stock Name: AMPROP
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: AMCORP PROPERTIES BERHAD (FORMERLY KNOWN AS AMDB BERHAD) ("AMPROP")
- PROPOSED ACQUISITION OF PROPERTY IN LONDON, UNITED KINGDOM
Contents: 1. INTRODUCTION
The Board of Directors of AMPROP wishes to announce that AMPROP had today received confirmation from its solicitors in London that AMPROP had on 12 October 2010 entered into an Agreement For Sale ("Agreement") with British Land Offices (Non-City) Limited (Company No: 2740378) ("BRLND") (the Vendor) to purchase a freehold property known as 95-99 Baker Street, 405 Durweston Mews, London W1, United Kingdom ("the Property") for a cash consideration of GBP16,250,000 ("Proposed Acquisition").
Prior to completion date, AMPROP will nominate its subsidiary(ies) to complete the Agreement and take transfer of the Property.
2. DETAILS OF THE PROPOSED ACQUISITION
2.1 Information on the Property
The Property is currently a freehold commercial property strategically located within walking distance to Marylebone High Street, Oxford Street and West End areas as well as public transportations namely, Baker Street underground and Marylebone overground stations.
BRLND will be converting part of the building into residential units with work on the residential scheme scheduled to commence in early 2011 and completion in 12 to 18 months thereof.
Once completed, the Property will comprise of 19 apartments arranged over 6 upper floors with 2 let commercial units across the ground and lower ground floors covering a total area size of approximately 20,000 square feet and 6 car park spaces.
2.2 Information on BRLND
BRLND is a subsidiary of The British Land Company PLC ("British Land"), one of the largest Real Estate Investment Trust (REIT) in the United Kingdom. Headquartered in London, British Land is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
BRLND is currently the owner of the Property.
3. RATIONALE
The continued strengthening of the Ringgit Malaysia against the Pound Sterling presents AMPROP with an opportunity to enhance its presence in the London property market, in addition to its interest in the freehold office buildings known as 40 and 50 Eastbourne Terrace located in Paddington, London which was acquired in September 2009.
With a long term view in mind, AMPROP seeks to make a gain from rental returns and capital appreciation; thereby enhancing shareholders long term value.
4. PURCHASE CONSIDERATION
4.1 The purchase consideration was arrived at on a willing-buyer-willing-seller basis.
4.2 The consideration would be satisfied by cash to be paid in the following manner:
(a) AMPROP (the Purchaser) will pay a sum of GBP1,625,000, representing 10% of the consideration upon execution of the Agreement to BRLND's solicitor as stakeholder.
(b) AMPROP will pay a further sum of GBP1,625,000 to BRLND's solicitor as stakeholder upon BRLND satisfying the conditions as stipulated in the Agreement.
(c) On the completion date, the aforesaid deposits and the balance purchase consideration of GBP13,000,000 will be paid to BRLND.
5. SOURCE OF FUNDING
The Proposed Acquisition will be funded by internally generated funds and bank borrowings of the Group.
6. LIABILITIES TO BE ASSUMED
There is no liability to be assumed by AMPROP arising from the Proposed Acquisition.
7. PERCENTAGE RATIOS
The highest percentage ratio applicable to the Proposed Acquisition pursuant to paragraph 10.02(g) of Bursa Malaysia Securities Berhad Main Market Listing Requirements is 15.38% based on the latest audited financial statements of AMPROP for the financial year ended 31 March 2010.
8. EFFECTS OF THE PROPOSED ACQUISITION
The Proposed Acquisition is not expected to have any material effect on the gearing, earnings and net assets per share of AMPROP for the financial year ending 31 March 2011. However, it is expected to contribute positively to the future earnings of AMPROP from the rental income of the Property and any subsequent gain on appreciation upon disposal.
The Proposed Acquisition will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholding of AMPROP as the purchase consideration will be satisfied in cash.
9. APPROVALS REQUIRED
The Proposed Acquisition is not subject to the approval of the shareholders of AMPROP.
10. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors and/or major shareholders of AMPROP and/or persons connected to them have any interest, direct or indirect, in the Proposed Acquisition.
11. ESTIMATED TIMEFRAME FOR COMPLETION
Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed within 18 months from the commencement of work on the residential scheme scheduled in early 2011.
12. STATEMENT BY DIRECTORS
Having considered all aspects of the Proposed Acquisition, the Board of Directors of AMPROP is of the opinion that the Proposed Acquisition is in the best interest of AMPROP.
13. DOCUMENTS AVAILABLE FOR INSPECTION
The Agreement will be made available for inspection at the registered office of the Company during normal office hours from Mondays to Fridays (except public holidays) at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur for a period of three (3) months from the date of this announcement.
This announcement is dated 13 October 2010.
Company Name: AMCORP PROPERTIES BERHAD
Stock Name: AMPROP
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: AMCORP PROPERTIES BERHAD (FORMERLY KNOWN AS AMDB BERHAD) ("AMPROP")
- PROPOSED ACQUISITION OF PROPERTY IN LONDON, UNITED KINGDOM
Contents: 1. INTRODUCTION
The Board of Directors of AMPROP wishes to announce that AMPROP had today received confirmation from its solicitors in London that AMPROP had on 12 October 2010 entered into an Agreement For Sale ("Agreement") with British Land Offices (Non-City) Limited (Company No: 2740378) ("BRLND") (the Vendor) to purchase a freehold property known as 95-99 Baker Street, 405 Durweston Mews, London W1, United Kingdom ("the Property") for a cash consideration of GBP16,250,000 ("Proposed Acquisition").
Prior to completion date, AMPROP will nominate its subsidiary(ies) to complete the Agreement and take transfer of the Property.
2. DETAILS OF THE PROPOSED ACQUISITION
2.1 Information on the Property
The Property is currently a freehold commercial property strategically located within walking distance to Marylebone High Street, Oxford Street and West End areas as well as public transportations namely, Baker Street underground and Marylebone overground stations.
BRLND will be converting part of the building into residential units with work on the residential scheme scheduled to commence in early 2011 and completion in 12 to 18 months thereof.
Once completed, the Property will comprise of 19 apartments arranged over 6 upper floors with 2 let commercial units across the ground and lower ground floors covering a total area size of approximately 20,000 square feet and 6 car park spaces.
2.2 Information on BRLND
BRLND is a subsidiary of The British Land Company PLC ("British Land"), one of the largest Real Estate Investment Trust (REIT) in the United Kingdom. Headquartered in London, British Land is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
BRLND is currently the owner of the Property.
3. RATIONALE
The continued strengthening of the Ringgit Malaysia against the Pound Sterling presents AMPROP with an opportunity to enhance its presence in the London property market, in addition to its interest in the freehold office buildings known as 40 and 50 Eastbourne Terrace located in Paddington, London which was acquired in September 2009.
With a long term view in mind, AMPROP seeks to make a gain from rental returns and capital appreciation; thereby enhancing shareholders long term value.
4. PURCHASE CONSIDERATION
4.1 The purchase consideration was arrived at on a willing-buyer-willing-seller basis.
4.2 The consideration would be satisfied by cash to be paid in the following manner:
(a) AMPROP (the Purchaser) will pay a sum of GBP1,625,000, representing 10% of the consideration upon execution of the Agreement to BRLND's solicitor as stakeholder.
(b) AMPROP will pay a further sum of GBP1,625,000 to BRLND's solicitor as stakeholder upon BRLND satisfying the conditions as stipulated in the Agreement.
(c) On the completion date, the aforesaid deposits and the balance purchase consideration of GBP13,000,000 will be paid to BRLND.
5. SOURCE OF FUNDING
The Proposed Acquisition will be funded by internally generated funds and bank borrowings of the Group.
6. LIABILITIES TO BE ASSUMED
There is no liability to be assumed by AMPROP arising from the Proposed Acquisition.
7. PERCENTAGE RATIOS
The highest percentage ratio applicable to the Proposed Acquisition pursuant to paragraph 10.02(g) of Bursa Malaysia Securities Berhad Main Market Listing Requirements is 15.38% based on the latest audited financial statements of AMPROP for the financial year ended 31 March 2010.
8. EFFECTS OF THE PROPOSED ACQUISITION
The Proposed Acquisition is not expected to have any material effect on the gearing, earnings and net assets per share of AMPROP for the financial year ending 31 March 2011. However, it is expected to contribute positively to the future earnings of AMPROP from the rental income of the Property and any subsequent gain on appreciation upon disposal.
The Proposed Acquisition will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholding of AMPROP as the purchase consideration will be satisfied in cash.
9. APPROVALS REQUIRED
The Proposed Acquisition is not subject to the approval of the shareholders of AMPROP.
10. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors and/or major shareholders of AMPROP and/or persons connected to them have any interest, direct or indirect, in the Proposed Acquisition.
11. ESTIMATED TIMEFRAME FOR COMPLETION
Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed within 18 months from the commencement of work on the residential scheme scheduled in early 2011.
12. STATEMENT BY DIRECTORS
Having considered all aspects of the Proposed Acquisition, the Board of Directors of AMPROP is of the opinion that the Proposed Acquisition is in the best interest of AMPROP.
13. DOCUMENTS AVAILABLE FOR INSPECTION
The Agreement will be made available for inspection at the registered office of the Company during normal office hours from Mondays to Fridays (except public holidays) at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur for a period of three (3) months from the date of this announcement.
This announcement is dated 13 October 2010.
BRDB - General Announcement
Announcement Type: General Announcement
Company Name: BANDAR RAYA DEVELOPMENTS BERHAD
Stock Name: BRDB
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: UPDATE ON STATUS OF MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN BANDAR RAYA DEVELOPMENTS BERHAD ("BRDB") AND MULTI-PURPOSE HOLDINGS BERHAD ("MPHB")
Contents: Reference is made to the Company's announcement on 13 July 2010 in respect of the 3 MOU between BRDB and MPHB relating to the proposed development of several parcels of land in Pulau Pinang, Rawang and Gombak legally and/or beneficially owned by the MPHB Group of companies.
BRDB wishes to inform that todate, there has been no material development on the MOU as announced earlier. BRDB is still in the process of evaluating the development concept and carrying out feasibility studies on the lands.
Company Name: BANDAR RAYA DEVELOPMENTS BERHAD
Stock Name: BRDB
Date Announced: 13/10/2010
Announcement Detail:
Type: Announcement
Subject: UPDATE ON STATUS OF MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN BANDAR RAYA DEVELOPMENTS BERHAD ("BRDB") AND MULTI-PURPOSE HOLDINGS BERHAD ("MPHB")
Contents: Reference is made to the Company's announcement on 13 July 2010 in respect of the 3 MOU between BRDB and MPHB relating to the proposed development of several parcels of land in Pulau Pinang, Rawang and Gombak legally and/or beneficially owned by the MPHB Group of companies.
BRDB wishes to inform that todate, there has been no material development on the MOU as announced earlier. BRDB is still in the process of evaluating the development concept and carrying out feasibility studies on the lands.
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