Bursa Announcements

Date : 31 March 2016

OTHERS TENANCY AGREEMENT BETWEEN CIMB COMMERCE TRUSTEE BERHAD (313031-A) AND SAMSUNG SDS GLOBAL SCL MALAYSIA SDN BHD (958761-V) (SSGSCL)

ATRIUM REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject OTHERS
Description 
TENANCY AGREEMENT BETWEEN CIMB COMMERCE TRUSTEE BERHAD (313031-A) AND SAMSUNG SDS GLOBAL SCL MALAYSIA SDN BHD (958761-V) (SSGSCL)

1.         INTRODUCTION


The Board of Directors of Atrium REIT Managers Sdn Bhd (Company No.: 710526-V), the Manager of Atrium REIT, wishes to announce that the Trustee of Atrium REIT, CIMB Commerce Trustee Berhad (“Landlord”) has entered into a Tenancy Agreement with SSGSCL (“Tenant”) on 23 March 2016 (“TA”).

 

Atrium Shah Alam 2, the property concerned, is an industrial premises comprising two (2) storey office block and a single storey warehouse building bearing postal address of Lot 7A, Persiaran Jubli Perak, Seksyen 22, 40300 Shah Alam, Selangor Darul Ehsan with a net lettable area of approximately 259,933 sq. ft. together with the fixtures and fittings therein (“Atrium Shah Alam 2”).

 

2.         INFORMATION ON SSGSCL

 

SSGSCL is a private limited company incorporated in Malaysia and and having its registered office at Level 8, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan and a place of business at A-5-1, 5th Floor, South Tower (Tower A), BBT One The Towers, Lebuh Batu Nilam 1, Bandar Bukit Tinggi, 41200 Klang, Selangor Darul Ehsan.

 

3.         SALIENT TERMS OF THE TA

 

The TA is subjected to the following terms and conditions:-

 

(i)

 

The rental of Phase 1 Space of an area measuring approximately 185,000 sq. ft. will commence on 1 April 2016;

(ii)

 

The rental of Phase 2 Space of an area measuring approximately 74,933 sq. ft. will commence by 1 January 2017 but in any case not earlier than 31st August 2016.

(iii)

 

A tenancy period of a fixed term of three (3) years from the Phase 1 Space Commencement Date;

(iv)

 

The expiration date will be on 31 March 2019;

(v)

 

Renewal period of a further term of two (2) years after the expiration date;

(vi)

 

Security deposit of three (3) months of the agreed rental, paid by the Tenant to the Landlord upon the execution of the TA;

(vii)

 

Utilities deposit of one (1) month of the agreed rental paid by the Tenant to the Landlord upon the execution of the TA as deposit for the consumption of water, electricity and Indah Water Konsortium services.

4.         BASIS OF DETERMINING THE RENTAL

 

The rental was arrived at based on negotiation between the parties and after taking into consideration the prevailing market rates for properties in the vicinity.

 

5.         DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS


None of the directors, major shareholders and/or persons connected to them has any interest, direct or indirect, in the TA.

 

This announcement is dated 31 March 2016.

 

 

 

 



Announcement Info

Company Name ATRIUM REAL ESTATE INVESTMENT TRUST
Stock Name ATRIUM
Date Announced 31 Mar 2016
Category General Announcement for PLC
Reference Number GA1-31032016-00095


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