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Advanced Integrated Manufacturing Corp Ltd Announces Incorporation Of New Subsidiary And Acquisition Of Properties In Malaysia

Friday, 5 Jul 2013 05:54am EDT 

Advanced Integrated Manufacturing Corp Ltd announced that the Company has incorporated a wholly-owned subsidiary in Malaysia, Vincente Property Sdn Bhd (Vincente). Vincente was incorporated with an issued share capital of RM100 divided into 100 ordinary shares and an authorised share capital of myr400,000 divided into 400,000 ordinary shares. The principal business activities of Vincente are land banking and property investment. The Company also announced that Vincente, the newly incorporated subsidiary of the Company, has, on July 05, 2013: exercised an option to purchase granted by Compac Fiscal Sdn Bhd (CFSB) to acquire a bungalow lot of an aggregate area of 19,791 square feet located at Lot PT 1353, HS(D) 16501, Daerah Timor Laut, Bandar Tanjung Pinang, Seksyen 1, Penang (the Land); and executed letters of offer to purchase three single storey penthouses, each of an approximate gross area of 9,533 square feet, from Province Valley Sdn Bhd (PVSB) located at #37-01, #38-01 and #39-01, Tower B, 1 Tanjong, Seafront Supercondominium, 521 Jalan Tanjung Bungah, Penang (collectively the Condominium Units and each a Condominium Unit). The aggregate consideration of the purchase of Properties (the Proposed Acquisitions) is MYR24,154,000) (the Total Consideration). The Proposed Acquisitions will be funded by a combination of internal resources, bank borrowings and/or a portion of the proceeds of the proposed Rights cum Warrants Issue. 

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