General Announcement

31/10/2007

PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD ("TRUSTEE"), ACTING AS TRUSTEE FOR AND ON BEHALF OF AmFIRST REAL ESTATE INVESTMENT TRUST ("AmFIRST REIT"), FROM MEDA DEVELOPMENT SDN BHD (MEDA OR VENDOR), A WHOLLY-OWNED SUBSIDIARY OF MEDA INC. BERHAD, OF ALL PROPERTY UNITS OWNED BY THE VENDOR LOCATED WITHIN THE COMMERCIAL MIXED DEVELOPMENT BUILDINGS KNOWN AS THE SUMMIT SUBANG USJ (PROPERTY) FOR A CASH PURCHASE CONSIDERATION OF RM260,000,000 ("PROPOSED ACQUISITION")

AMFIRST REAL ESTATE INVESTMENT TRUST

Type

Announcement
SubjectPROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD ("TRUSTEE"), ACTING AS TRUSTEE FOR AND ON BEHALF OF AmFIRST REAL ESTATE INVESTMENT TRUST ("AmFIRST REIT"), FROM MEDA DEVELOPMENT SDN BHD (MEDA OR VENDOR), A WHOLLY-OWNED SUBSIDIARY OF MEDA INC. BERHAD, OF ALL PROPERTY UNITS OWNED BY THE VENDOR LOCATED WITHIN THE COMMERCIAL MIXED DEVELOPMENT BUILDINGS KNOWN AS THE SUMMIT SUBANG USJ (PROPERTY) FOR A CASH PURCHASE CONSIDERATION OF RM260,000,000 ("PROPOSED ACQUISITION")

Contents :

This announcement is dated 31 October 2007.


Reference is made to the announcement dated 1 August 2007 on the Proposed Acquisition.

On behalf of the Board of Directors of Am ARA REIT Managers Sdn Bhd, the manager of AmFIRST REIT, AmInvestment Bank Berhad (formerly known as AmMerchant Bank Berhad)(a member of AmInvestment Bank Group) wishes to announce that the Vendor has today requested an extension of time up to 30 November 2007 for the submission of their application to the Securities Commission (SC) and other relevant authorities for the sale of the Property as further time is required for the completion of their legal due diligence exercise.

The Trustee has granted the Vendor the said extension of time. Accordingly, the timing of the submission of the application to the SC for the Proposed Acquisition (details of which are set out in Section 6 of the announcement dated 1 August 2007) will be extended to 30 November 2007.


Announcement Info

Company NameAMFIRST REAL ESTATE INVESTMENT TRUST  
Stock Name AMFIRST
Date Announced31 Oct 2007  
CategoryGeneral Announcement
Reference NoMM-071031-53987



Related Announcements for AMFIRST
Date Title
15/04/2015 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS AmFIRST REAL ESTATE INVESTMENT TRUST (“AmFIRST REIT”) PROPOSED ACQUISITION BY AmFIRST REIT OF ALL THOSE SIX (6) PIECES OF LAND HELD UNDER GM 136, GRN 1929, GM 929, GM 338, GM 342 AND HSM 1158, LOT NOS. 850, 1186, 1511, 1611, 1619 AND 3424 RESPECTIVELY, IN THE MUKIM 06, DISTRICT OF SEBERANG PERAI TENGAH, STATE OF PULAU PINANG (“LANDS”) TOGETHER WITH A THREE (3) STOREY HYPERMALL BUILDING, EACH FLOOR WITH A MEZZANINE LEVEL TOGETHER WITH 1,242 CAR PARK BAYS AND 1,236 MOTORCYCLE BAYS IDENTIFIED AS MYDIN HYPERMALL WHICH IS CURRENTLY BEING BUILT ON THE AFORESAID LANDS FOR A CASH CONSIDERATION OF RM250,000,000.00 FROM MYDIN WHOLESALE CASH AND CARRY SDN BHD (COMPANY NO. 275715-K) (“PROPOSED ACQUISITION”).
14/04/2015 OTHERS AmFIRST REAL ESTATE INVESTMENT TRUST (“AmFIRST REIT”) CLARIFICATION ON ARTICLE IN THE EDGE FINANCIAL DAILY DATED 14 APRIL 2015 ENTITLED “AmFIRST TO ACQUIRE MYDIN STORE IN PENANG”
01/04/2015 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
02/01/2015 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
01/10/2014 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
01/07/2014 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
12/05/2014 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): COMBINATION OF TRANSACTIONS Revaluation of investment properties pursuant to Clause 10.03 of Securities Commission Malaysia's Guidelines on Real Estate Investment Trust ("SC REIT Guidelines") and Malaysian Financial Reporting Standard 140.
01/04/2014 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
02/01/2014 NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
03/10/2013 OTHERS AmFIRST REAL ESTATE INVESTMENT TRUST (“AmFIRST REIT” OR THE “FUND”) (I) PROPOSED AMENDMENT TO THE RELEVANT CLAUSE IN THE DEED DATED 28 SEPTEMBER 2006 AS AMENDED BY THE FIRST SUPPLEMENTED, REVISED AND RESTATED DEED DATED 15 DECEMBER 2006 ENTERED INTO BETWEEN Am ARA REIT MANAGERS SDN BHD (“Am ARA” OR THE “MANAGER”) AND MAYBANK TRUSTEES BERHAD CONSTITUTING AmFIRST REIT (“FIRST RESTATED DEED”) TO ALLOW THE MANAGER TO BE PAID EITHER IN THE FORM OF NEW UNITS IN AmFIRST REIT, CASH OR A COMBINATION THEREOF FOR ITS BASE FEE AND PERFORMANCE FEE; AND (II) PROPOSED AMENDMENTS TO CERTAIN CLAUSES IN THE FIRST RESTATED DEED TO BE ALIGNED WITH THE APPLICABLE LAWS, REGULATIONS AND GUIDELINES GOVERNING THE REAL ESTATE INVESTMENT TRUSTS AND TO PROVIDE FOR AMENDMENTS WHICH ARE ADMINISTRATIVE AND/OR TECHNICAL IN NATURE (COLLECTIVELY REFERRED TO AS THE “PROPOSED AMENDMENTS”)