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Email : contact@eeb.com.my
Date : 24 September 2013

Debt Restructuring Agreement


TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDNS-130923-38226
SubjectDebt Restructuring Agreement
DescriptionEastland Equity Bhd - Debt Restructuring Agreement
Query Letter Contents We refer to your announcement dated 20 September 2013 in respect of the above
captioned matter.

In this connection, kindly furnish Bursa Securities with the following
additional information for public release :-

1. Particulars of the said Land and Condos as per Appendix 10A, Part C of the
Main Market Listing Requirements.
2. The consideration at which the said Land and Condos will be transferred to
Explicit Vantage, and how this was arried at, other than on a "willing buyer
willing seller" basis.
3. The basis of arriving at the value of the said Land and Condos of
RM18,120,000 and RM840,000 respectively. If relevant, the name of the
independent registered valuer, date and method of valuation and quantification
of the market value.
4. The expected gains or losses to the Eastland Equity Berhad ("Eastlnd") group
arising from the Transfer of Properties.
5. The substantial shareholders of Fazwin Construction Sdn Bhd ("Fazwin") and
Explicit Vantage Sdn Bhd ("Explicit Vantage") and their repective shareholdings
6. Net book value of the said Land and Condos based on FBO Land's latest
audited accounts.
7. The effects of the Debt Restructuring on the net assets epr shae and gearing
of the Eastlnd group, based on its latest audited accounts as at 31 December
8. The particulars of all liabilities to be assumed by Explicit Vantage arising
from the Transfer of Properties.
9. The original cost of investment in the said Land and Condos and the dates of
such investment.
10. How FBO's Land's Debt came about, and the utilisation by FBO Land.
11. The estimated time frame to complete the Debt Restructuring.


12. A statement by the board of directors, excluding interested directors
stating whether the Debt Resturcturing is in the best interests of Eastlnd, and
where a director disagrees with such statement, a statement by the director
setting out the reasons and the factors taken into consideration in forming
that opinion.
13. The highest percentage ratio applicable to the Transfer of Properties
pursuant to paragraph 10.02(g) of Main Market Listing Requirements.

Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.

Yours faithfully

Head, Issuers
Listing Division


c.c:- General Manager & Head, Market Surveillance Department, Market Oversight
Division, Securities Commission (via fax)
Please refer to the attached file for the details of the announcement.
This announcement is dated 24 September 2013.

Announcement Info

Stock Name EASTLND    
Date Announced24 Sept 2013  
CategoryGeneral Announcement
Reference NoCC-130924-237DE