Dear geng, this is just to highlight the old story:
Talam hopes to reverse PN17 status by April (04-Nov-06)
Talam Corp Bhd expects to regularise its financial condition by April, chairman Tan Sri Chan Ah Chye said. Talam, which was categorised as a Practice Note 17 (PN17) company on Sept 1, is in the midst of implementing a debt-restructuring plan. - STAR
Company Name : TALAM CORPORATION BERHAD
Stock Name : TALAM
Date Announced : 25/04/2007
Type : Announcement
Subject : TALAM CORPORATION BERHAD ["TALAM or the Company"]
PROPOSED DISPOSAL OF A LEASEHOLD LAND HELD UNDER PM 1038, LOT 2374, MUKIM OF EMPANGAN, DISTRICT OF ULU LANGAT, STATE OF SELANGOR TOGETHER WITH A HOSPITAL OFFICE BUILDING OF 6 FLOORS AND A MEDICAL OFFICERS' BLOCK OF 3 FLOORS BY PANDAN INDAH MEDICAL MANAGEMENT SDN BHD, A WHOLLY OWNED SUBSIDIARY OF TALAM, TO HOSPITAL PANTAI INDAH SDN BHD FOR A TOTAL CONSIDERATION OF RM63,500,000.00 ("PROPOSED DISPOSAL")
Contents :
We refer to our announcement dated 19 April 2007 in respect of the Proposed Disposal. We herewith furnish the following information as requested:-
(1) CONSIDERATION OF THE PROPOSED DISPOSAL
Pandan Indah Medical Management Sdn Bhd ("PIMMSB") agrees to sell and Hospital Pantai Indah Sdn Bhd ("HPISB") agrees to purchase the Property on "as is where is" basis at a total consideration of RM63,500,000.00 ("Purchase Price").
HPISB has paid to PIMMSB a sum of RM1,270,000.00 being the 2% of the Purchase Price as earnest deposit and towards part payment of the Purchase Price to PIMMSB on 14 February 2007.
(2) MODE OF PAYMENT
HPISB shall pay the balance deposit and balance purchase price at the time and in the following manner:-
(a) 8% of the Purchase Price equivalent to the sum of RM5,080,000.00 being the balance deposit towards part payment of the Purchase Price upon the execution of the Sale and Purchase Agreement, which has been paid on the date of announcement.
(b) The sum of RM57,150,000.00 will pay to PIMMSB's Solicitors as stakeholders being the balance Purchase Price within 3 months from the date where the Sale and Purchase Agreement become unconditional.
However, the conditional period is within 6 months from the date of the Sale and Purchase Agreement.
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Now, this counter become more speculative as the target date. Standby to re-enter. Should be more alert on this counter for short term profit.
The farmer is selling some of his plantation area to settle big debt!!! ha ha ha...like playing monopoly...
