1) The net book value of the Land (as defined in the aforesaid announcement) based on the latest audited accounts:
The Land has no net book value since it is yet to be registered into the name of 59 Inc Sdn Bhd pending payment of alienation premium and related charges to the Land Office.
2) The expiry date of the leasehold:
The tenure of the leasehold is 99 years from the issuance of the land title. The expiry date of the leasehold can only be determined after the land title has been issued. The Land will be registered into the name of 59 Inc Sdn Bhd after payment of alienation premium, quit rent and other charges which are due within 3 months from 7 February 2011, being the date of the letter from the Land Office.
3) The source of funds to finance the development of the Land:
The development of the Land will be financed via a combination of funding sources comprising internally generated funds, proceeds from sale of the development and/or bank borrowings.
4) Whether relevant approvals for the development have been obtained and date(s) obtained:
No approval from the relevant authorities was sought or obtained for the development. The Land has yet to be registered into the name of 59 Inc Sdn Bhd.
5) The breakdown between internally generated funds and borrowing for the source of funding for the purchase consideration:
As mentioned under note 2.3.3 of the announcement, the purchase consideration would be paid in installments. The source of funding for the balance of the purchase consideration would depend on the prevailing cash position of the Company at the relevant point of time.