Bursa Announcements

 

(For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcement dated 11 June 2012).

 

Further to the announcement dated 11 June 2012 in regards to the Lease of Silver Bird Factory (Default in Rental Payment), on behalf of the Board of Directors of AmanahRaya-REIT Managers Sdn Bhd (“the Company”), the Management Company of ARREIT wishes to announce that the Lease Period shall be extended, commencing from 2 January 2013 (“the Commencement Date”) for a further period of seven (7) months and two (2) weeks (“Lease Period”) with an extension of a period of one (1) year at a monthly rental and on terms and conditions to be agreed (“Extension of Lease Period”).

 

In consideration of the Lessor agreeing to further extend the lease of the Demised Premises for the duration of the Lease Period, the Lessee shall pay the Lessor the rental of Ringgit Malaysia Six Hundred Eight Thousand (RM608,000.00) per month for the 7.5 month extension where the rental for the Lease Period shall be deducted from the security deposit deposited into the Institutional Trust Account-Syariah (“ITA-S”) (“Security Deposit”). The Lessee shall not be required to place or maintain any sums with the Lessor or any other party as deposits and the provisions in the Lease Agreement in respect of the placement or maintenance of deposits are expressly waived for the Lease Period.

 

The Parties shall negotiate the rental for the Extension of Lease Period three (3) months prior to the expiry of the Lease Period.

 

The Lessor shall forthwith refund the amount of Ringgit Malaysia Two Million Four Hundred Thirty Two Thousand (RM2,432,000.00) only from the Security Deposit to the Lessee.

 

The balance of the Ringgit Malaysia Five Hundred Fifty Four Thousand (RM554,000.00) only shall be retained by the Lessor and will be used for the following purposes:-

Purpose	Amount
Removal of plants and machineries	Ringgit Malaysia Three Hundred Thousand (RM300,000.00) only.
Quit rent and assessments	Ringgit Malaysia One Hundred Seventy Five Three Hundred Thirty Seven Thousand (RM175,337.00) only.
Any cost or expenses which may or required to be incurred by the Lessor in accordance to the Lease Agreement	Ringgit Malaysia Seventy Eight Thousand Six Hundred Sixty Three (RM78,663.00) only.

The above transaction does not have any material impact on the earnings and net assets of the Company for the financial year ending 31 December 2012.

 

This announcement is dated 19 December 2012.