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Reference is made to the announcement made by Freight Management Holdings Berhad ("FMHB") on 17 January 2011 and the query letter from Bursa Malaysia Securities Berhad dated 19 January 2011 on the subject matter. The following are the requested additional information for public release:-
1. Details of Axis Real Estate Investment Trust
Axis Real Estate Investment Trust ("Axis-REIT") was the first Real Estate Investment Trust (“REIT”) to list on Bursa Malaysia Securities Berhad on 3 August 2005 and was reclassified as an Islamic REIT on 11 December 2008. Axis REIT owns a diversified portfolio of properties in the Klang Valley, Johor and Kedah. Axis REIT Managers Berhad is the Manager of Axis REIT.
2. The amount of lettable space of the Property
The Property comprises a single-storey detached warehouse with a double-storey office annexe (tenanted by FMMSB), a double-storey amenities building (tenanted by third party) and other ancillary buildings such as guard houses, stores, an open sided shed and a water tank.
As disclosed in our announcement on 17 January 2011, the total gross floor area / lettable area is approximately 148,815 sq. ft. (13,825.32 sq. metres)
3. Particulars of contingent liabilities and guarantees to be assumed by FMMSB arising from the Acquisition
As per item 3.4 in the announcement dated 17 January 2011, the Property is purchased free from encumbrances. No liabilities will be assumed by FMMSB.
4. Whether Colliers, Jordan Lee & Jaafar (S) Sdn Bhd is an independent registered valuer
Colliers, Jordan Lee & Jaafar (S) Sdn Bhd is an independent registered valuer.
5. Salient features of the SPA and valuation report, and the time and place where the valuation report may be inspected
The salient features of the SPA is as disclosed under items 3.2 and 4.0 in our announcement on 17 January 2011.
The valuation report is available for inspection at the Company’s Registered Office, Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur from 8.30 a.m. to 5.30 p.m., Monday to Friday (except public holidays) for a period of two weeks from the date of the announcement.
6. Prospects of the Property
To accommodate the growth in FMHB Group’s warehousing and distribution activities.
7. The estimated timeframe for submission of the application in relation to the Acquisition to the State Authority
As per item 4.2 in the announcement dated 17 January 2011, The Vendor shall forthwith within fourteen (14) days upon the execution of the SPA, submit and apply to the Pihak Berkuasa Negeri for the Consent to Transfer and shall do and execute all acts, things and documents and supply such information as may be necessary for the purpose of such application, at the Vendor’s own costs and expense.
This announcement is dated 21 January 2011.
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We refer to your announcement dated 17 January 2011 in respect of the above
matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
1. Details of Axis Real Estate Investment Trust.
2. The amount of lettable space of the Property.
3. Particulars of contingent liabilities and guarantees to be assumed by
FMMSB arising from the Acquisition.
4. Whether Colliers, Jordan Lee & Jaafar (S) Sdn Bhd is an independent
registered valuer.
5. Salient features of the SPA and valuation report, and the time and place
where the valuation report may be inspected
6. Prospects of the Property.
7. The estimated time frame for submission of the application in relation to
the Acquisition to the State Authority.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division, Regulation
TYE/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax) |
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