TA completes RM36m land sale in South Africa

Posted on | July 25, 2007

By THE EDGE

KUALA LUMPUR: TA Antarabangsa Finance South Africa Ltd, a subsidiary of TA Enterprises Bhd, has completed the sale of four parcels of commercial freehold land measuring 6,229 sq m including an office building in South Africa for R73,000,000 (RM36,390,827) cash.

TA Antarabangsa Finance South Africa Ltd had received the balance purchase price of R65,700,000 from the purchaser, Paramount Property Fund Ltd and R7,300,000 from TA Antarabangsa Finance South Africa Ltd’s attorney who had held the cash deposit in trust, it said in a statement to Bursa Malaysia yesterday.

“The board of directors of TAE wishes to announce that the transfer of title of the property has been registered in the Johannesburg Deeds Office,” they said.

All the conditions precedent as specified in the agreement of sale together with the addendum between TA Antarabangsa Finance South Africa Ltd and Paramount Property Fund Ltd have been fulfilled.

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