you are here: Home    Newsroom   News

RSS Feed Email This Print This News

A. Proposed Restructuring Scheme of Ancom Logistics Berhad ("ALB") (formerly known as Tamco Corporate Holdings Berhad);
B. Proposed Acquisition of Property; and
C. Proposed Disposal of Synergy Trans-Link Sdn Bhd

(B and C collectively referred to as "Ancom Proposals")

BackJan 05, 2010
Date Announced
:
 05/01/2010  




Type
:
 Announcement
Subject
:
ANCOM BERHAD ("Ancom" or "Company") :

A. Proposed Restructuring Scheme of Ancom Logistics Berhad (“ALB”) (formerly known as Tamco Corporate Holdings Berhad);
B. Proposed Acquisition of Property; and
C. Proposed Disposal of Synergy Trans-Link Sdn Bhd

(B and C collectively referred to as "Ancom Proposals")

Contents
:

For consistency, the abbreviations used hereafter throughout this announcement shall have the same meanings as defined in the Company's announcements dated 16 November 2009 and 4 January 2010 respectively.

Further to the Company's announcement dated 4 January 2010, Ancom wishes to announce the following details on the Proposed Acquisition of Property:

1. The name of the independent valuer is CH Williams Talhar & Wong Sdn. Bhd. ("Valuer");

2. The Valuer has valued the Property based on the following basis:-

Basis I –The Property is valued as a parcel of vacant industrial land for RM21,800,000 by using "Comparison Method"; and

Basis II – The Property is valued on the assumption that the subject buildings on the Property have been constructed/ completed in accordance with approved building plans and specifications and issued with a certificate of fitness for occupation by the relevant authorities for RM25,300,000.

The Property is valued using the “Depreciated Replacement Cost Method” which is based on an estimation of the market value of the land for its existing use plus the current replacement cost of the buildings and improvements less allowances for physical deterioration and all relevant forms of obsolescence and optimisation.

3. The agreed purchased consideration of RM25,000,000 represents a discount of RM300,000 or approximately 1.19% to the valuation of RM25,300,000 based on the second basis of valuation.

This announcement is dated 5 January 2010.

Announcement Details :