OTHERS

JOHORE TIN BERHAD (“JTB”) – SALE AND PURCHASE AGREEMENT ENTER BY JOHORE TIN FACTORY SENDIRIAN BERHAD(WHOLLY-OWNED SUBSIDIARY OF JOHORE TIN BERHAD)

JOHORE TIN BERHAD

 

Type Announcement
Subject OTHERS
Description 
JOHORE TIN BERHAD ("JTB")
- SALE AND PURCHASE AGREEMENT ENTER BY JOHORE TIN FACTORY SENDIRIAN BERHAD(WHOLLY-OWNED SUBSIDIARY OF JOHORE TIN BERHAD)

Furtherance to the announcement dated 24 June 2015 of JTB in respect of the Sale and Purchase Agreement entered by Johore Tin Factory Sendirian Berhad, a wholly-owned subsidiary of JTB.

JTB hereby append below the following additional information:-

1.  BASIS OF ARRIVING AT THE DISPOSAL CONSIDERATION

The Disposal Consideration was arrived based on mutually agreed between Johore Tin Factory Sendirian Berhad (“JTFSB”) (“the Vendor”) and Amerseal Industrial Sdn Bhd (“the Purchaser”).

2.  DETAILS ON THE PROPERTY 

Description of Properties Selling Price
Property A

All that piece of leasehold land held under HS(D) 527337 LOT 6423 Bandar Johor Bahru, District of Johor Bahru, State of Johor, measuring approximately 0.3634 Hectares (formerly known as HS(D) 108311 TLO 1936)

Building:  A Single Storey Detached Factory with a Double Storey Office erected thereon.

Address: No. 7, Jalan Gagah, Kawasan Perindustrian Larkin, 80350 Johor Bahru.

 RM2,800,000-00 (Ringgit Malaysia: Two Million and Eight Hundred Thousand Only)Plus 6% GSTRM168,000-00 (Ringgit Malaysia: One Hundred and Sixty Eight Thousand Only)
Property B;

All that piece of leasehold land held under HS(D) 527338 LOT 6422 Bandar Johor Bahru, District of Johor Bahru, State of Johor, measuring approximately 0.353 Hectares (formerly known as HS(D) 7258 TLO 1883)Building: A Single Storey Detached Factory erected thereon.

Address: No. 5, Jalan Gagah, Kawasan Perindustrian Larkin, 80350 Johor Bahru.

 RM2,200,000-00 (Ringgit Malaysia: Two Million and Two Hundred Thousand Only)Plus 6% GSTRM132,000-00 (Ringgit Malaysia: One Hundred and Thirty Two Thousand Only)

3. RATIONALE

The Proposed Disposal provides an opportunity for the JTB Group to realise appreciation in market value of the Properties since JTB Group had relocated its business operation from the Properties to a larger premise in Kampung Seelong Jaya, Skudai, Johor.

This Announcement is dated 26 June 2015.

Announcement Info

Company Name JOHORE TIN BERHAD
Stock Name JOHOTIN
Date Announced 26 Jun 2015
Category General Announcement for PLC
Reference Number GA1-26062015-00066