Bursa Announcements
Date : 31 October 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

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