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KUALA LUMPUR: ACE Market-listed Iris Corp Bhd and Mapletree Industrial Fund Pte Ltd have terminated a proposed disposal and leaseback of two plots of leasehold land in Technology Park Malaysia as terms and conditions of the sale and purchase agreement (SPA) could not be concluded within the agreed negotiation period.
In a statement to Bursa Malaysia Securities yesterday (April 19), Iris said upon termination of the conditional letter of offer dated July 9, 2007, Mapletree’s solicitors would refund RM1.83 million, being 2% of the purchase price with accrued interest.
On July 11, 2007, Mapletree and Iris’ wholly owned subsidiary Iris Technologies (M) Sdn Bhd had entered into a conditional SPA for the proposed disposal and leaseback of two plots of leasehold land and a four-and-a-half-storey office and manufacturing building in Bukit Jalil with a land area of 188,179 sq ft for RM91.5 million.
This article appeared in The Edge Financial Daily, April 16, 2010.
In a statement to Bursa Malaysia Securities yesterday (April 19), Iris said upon termination of the conditional letter of offer dated July 9, 2007, Mapletree’s solicitors would refund RM1.83 million, being 2% of the purchase price with accrued interest.
On July 11, 2007, Mapletree and Iris’ wholly owned subsidiary Iris Technologies (M) Sdn Bhd had entered into a conditional SPA for the proposed disposal and leaseback of two plots of leasehold land and a four-and-a-half-storey office and manufacturing building in Bukit Jalil with a land area of 188,179 sq ft for RM91.5 million.
This article appeared in The Edge Financial Daily, April 16, 2010.
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