Announcement Details/Table Section :
Further to our general announcement made on 19 October 2011, we are pleased to furnish herewith the following additional information:-
1. The name of the project is Platinum Starhill Business Centre which will consists of 3 blocks of 6-storey office building, namely Block A, Block B and Block C on top of 3-storey car park.
2. The basis of arriving at the purchase consideration of average RM450 per square feet for the properties after taking into consideration the pricing of similar project development in the surrounding as below:-
|
Name of Project Development
|
Property Type
|
Selling Price (per square feet)
|
|
Connaught Avenue, Cheras
|
Strata Shop-office
|
RM458 to RM476
|
|
Ikon Connaught, Cheras
|
Strata office unit
|
RM500 to RM570
|
3. The term of tenure of the properties is Freehold.
4. The breakdown of the intended source of funding of the acquisition will be as below:-
|
Source of funds
|
Amount (RM)
|
%
|
|
Internally generated funds
|
13,286,749.00
|
30
|
|
Borrowings
|
31,000,000.00
|
70
|
|
Total
|
44,286,749.00
|
100
|
5. We are not privy to the Developer’s development order and the details of it. As mentioned in our earlier announcement, the Project is expected to commence its construction in November 2011 and to be completed by end of 2014.
|
