General Announcement   Reference No TC-061117-59961

Company Name	:	TALAM CORPORATION BERHAD
Stock Name	:	TALAM
Date Announced	:	17/11/2006

Type	:	Announcement
Subject	:	TALAM CORPORATION BERHAD ("TCB" or "the Company") PROPOSED ACQUISITION OF 50% EQUITY INTEREST IN GOOD DEBUT SDN BHD

Contents :

The Company wishes to inform that G.L. Development Sdn Bhd ("GLD") has on 17 November 2006 entered into a Joint Venture/Shareholders' Agreement with IJM Properties Sdn Bhd ("IJMP") and Good Debut Sdn Bhd ("GDSB") for IJMP and GLD to use GDSB as the 50:50 joint venture company to acquire and develop approximately 17.84 acres of land held under Hakmilik No. 505 & 506, Lot 19000 SEK 2 and Lot 19003 SEK 2, Batu 7, Ulu Kelang, Bandar Ulu Kelang, Daerah Gombak, Selangor Darul Ehsan ("the Development Land").

The proposed share capital of GDSB will be RM500,500 comprising 500,000 ordinary shares of RM1 each and 500 redeemable preference shares ("RPS") of RM1 each. GLD will subscribe 50% of the ordinary shares of RM1 each at par and 100% of the RPS of RM1 each at a premium of RM999.

GLD is a wholly-owned subsidiary of TCB. IJMP is a wholly-owned subsidiary of IJM Corporation Berhad. Ukay Land Sdn Bhd is a 99.999% subsidiary of TCB, and is the registered owner of the Development Land, the development of which is known as Ukay Perdana.

None of the Directors nor substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the transaction. The transaction will not have any significant effect on the earnings or net assets per share of the Company for the financial year ending 31 January 2007.


 

Back