Disposal of Properties To Malaysian Resources Corporation Bhd ("MRCB") For A Sale Consideration Of RM26.0 Million
Further to our announcement dated 21 July 2008, we wish to inform that the contract for the disposal of the properties was awarded by way of Public Tender.
Two (2) tenders were received for the purchase of the said properties. The value of the other bid was RM26.0 million but with conditions that were not favourable to Malaysia Building Society Berhad ("MBSB"). The offer from MRCB did not contain such conditions imposed by the other bidder and any other additonal conditions.
The terms of the awarded contract were stipulated in item 2.3 of our earlier announcement dated 21 July 2008.
This announcement is dated 29 July 2008.