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1. INTRODUCTION
The Board of Directors of AmanahRaya-REIT Managers Sdn Bhd, the
management company of ARREIT wishes to announce that in view of Tamadam
Bonded Warehouse Berhad ("TBWB") have mutually agreed for early
termination of the lease which has a remaining period of about 7 years
with CIMB Trustee Berhad ("the Trustee"), the registered and beneficial
owner of Tamadam Bonded Warehouse ("Property"), the Manager has
identified Kontena Nasional Berhad ("KNB") as the replacement.
Upon the mutually agreed for early termination of the abovesaid Lease
Agreement with TBWB, the Trustee has entered into a Lease Agreement
("Lease Agreement") with KNB on 21 May 2010 for the lease of the
abovesaid Property.
2. SALIENT TERMS OF THE NEW LEASE AGREEMENT WITH KNB
The salient terms of the Lease Agreement are set out as follows:-
(i) Lessor: CIMB Trustee Berhad, Trustee for ARREIT
(ii) Lessee: Kontena Nasional Berhad
(iii) Property description:
(a) H.S.(D) 128214 No. PT 799 Seksyen 21 Bandar Port Swettenham Daerah
Klang Negeri Selangor (formerly known as PN 4564 Lot 11614 Mukim Klang
Daerah Klang Negeri Selangor) measuring approximately 47348.145 square
metres in area.
(b) H.S. (M) 19795 Lot No. PT 21596 Mukim Klang Daerah Klang Negeri
Selangor measuring approximately 7344 square metres in area.
(iv) Period of Lease: Nine (9) years (subject to terms and conditions of the Lease Agreement)
(v) Date of Commencement: Upon full surrender of the Property from TBWB to ARREIT and handover from ARREIT to KNB.
(vii) Monthly Rental: Year 1 - 3: RM179,250.00 per month
Year 4 - 6: RM188,212.50 per month
Year 7 - 9: RM197,623.13 per month
3. FINANCIAL EFFECTS
The above transactions do not have any material effect on the net
assets value for the financial year ended 31 December 2009 and is not
expected to have any material effect on the earnings of ARREIT for the
financial year ending 31 December 2010.
4. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the directors and major shareholders of AmanahRaya-REIT
Managers Sdn Bhd, the management company of ARREIT as well as persons
connected with them have any interest, direct and/or indirect, in the
abovesaid transactions.
This announcement is dated 21 May 2010. |
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