JADE SAN REALTY SDN BHD ( K)

Transcription

1 JADE SAN REALTY SDN BHD ( K) (In Liquidation) EI/JSRSB/2 For those interested parties who wish to submit their proposals should complete the Offer Form under Option A and submit the same to the liquidators without the payment of a deposit equivalent to 10% of the offer price. For those interested parties who wish to submit their tenders should complete the Tender Form under Option B and submit the same to the liquidators together with a deposit by way of bank draft/cashier s order representing ten (10) per cent of the tender sum.

2 OPTION A EXPRESSION OF INTEREST OFFER FORM To: The Liquidator s Jade San Realty Sdn Bhd (In Liquidation) c/o HLB Ler Lum B-3-11, Megan Avenue II No. 12, Jalan Yap Kwan Seng Kuala Lumpur I / We (NRIC / Company Registration No. ) of hereby submit our proposal for the purchase of the following property, subject to the terms and conditions herein contained in the Special Conditions of Sale as attached. No. Brief Description Price Offered (RM) 1 Undeveloped parcels of development land 2 Abandoned bungalow lots development (Phase 1, 2, 2A, 2B, 3) Total Ringgit Malaysia: I / We understand fully that the sale by you is expressly subject to the Special Conditions of Sale of which I / we have read or am / are deemed to have read.

3 I / We understand that the sale is on an as is where is basis and that no warranties or representations expressed or implied are given either as to the condition of the property offered or as to the suitability of such property for any particular purpose. I / We understand that the Liquidators are not bound to accept any proposal. I/We enclose herewith the following documents to support our financial position: a. A copy of the latest audited accounts; b. A copy of the Memorandum and Articles of Association; c. A copy of the latest Form 49; and d. A copy of the latest Form 24 e. Company profile and track records for similar development projects undertaken Signature / Company Stamp Date: Full Name : Address : Telephone No. : Facsimile No. : Address : IMPORTANT: This expression of interest must be submitted in a sealed envelope marked EI/JSRSB/2 to reach the Liquidators on or before 26 th December 2007, at 5.00 p.m. A deposit equivalent to 10% of the offered price is not required for submitting the proposal. Only short listed candidates would be notified by post. For office use only Ref. No. : Attended By : Offered Price : Deposit Paid : Balance Due : Sale Approved By :

4 OPTION B TENDER FORM To: The Liquidator s Jade San Realty Sdn Bhd (In Liquidation) c/o HLB Ler Lum B-3-11, Megan Avenue II No. 12, Jalan Yap Kwan Seng Kuala Lumpur I / We (NRIC / Company Registration No. ) of hereby irrevocably tender for the purchase of the following property, subject to the terms and conditions herein contained in the Special Conditions of Sale as attached. No. Brief Description Price tendered (RM) 10% of tender sum (RM) 1 Undeveloped parcels of development land 2 Abandoned bungalow lots development (Phase 1, 2, 2A, 2B, 3) Total Ringgit Malaysia:

5 I / We understand fully that the sale by you is expressly subject to the Special Conditions of Sale of which I / we have read or am / are deemed to have read. I / We understand that the sale is on an as is where is basis and that no warranties or representations expressed or implied are given either as to the condition of the property offered or as to the suitability of such property for any particular purpose. I / We understand that the Liquidators are not bound to accept any tender. I/We enclose a Bank Draft/Cashier s Order No. for RM representing ten (10) per cent of the tender sum in accordance with the terms and conditions stated in the Special Conditions of Sale. Signature / Company Stamp Date: Full Name : Address : Telephone No. : Facsimile No. : Address : IMPORTANT: This tender must be submitted in a sealed envelope marked EI/JSRSB/2 to reach the Liquidators on or before 26 th December 2007, at 5.00 p.m. For office use only Ref. No. : Attended By : Offered Price : Deposit Paid : Balance Due : Sale Approved By :

6 SPECIAL CONDITIONS OF SALE 1. INSPECTION 1.1 Offerer/Tenderer(s) either themselves or their agents shall be deemed to have inspected the property offered/tendered for and have satisfied themselves by examining and inspecting the property in every aspect. 2. WARRANTIES 2.1 The property offered/tendered for sale is/are to be sold on an as is where is basis. 2.2 No warranties or representations expressed or implied is either given as to the condition of the property offered/tendered or as to the suitability of such property for any particular purpose. 2.3 Further information of the property as annexed herein in First Schedule, Second Schedule and Third Schedule respectively are unverified information by the Liquidators and the same are not tantamount to warranty and/or representation made by the Liquidators. Offerer/Tenderer(s) should make arrangement to view the property. 3. IDENTITY 3.1 Offerer/Tenderer(s) shall admit the identity of the property offered/tendered for with that comprised in the muniments offered/tendered by the Liquidators as the title of the property upon evidence afforded by the comparison of the description in the particulars and the muniments respectively. 3.2 The property are believed and shall be taken as correctly described and are sold subject to all easements, liabilities and rights (if any) subsisting thereon or thereover without any obligation arising to define the same respectively and no error, mis-statement or mis-description, incorrect measurement or change in the condition or state of any of the property shall annul the sale nor shall any compensation and reduction in the purchase price be allowed in respect thereon. 4. BIDS 4.1 Bids must only be made for the property in the format of the Offer/Tender Form.

7 5. OFFERS/TENDERS 5.1 A specific sum in Ringgit Malaysia payable in Malaysia is to be offered/tendered. 5.2 The Offerer/Tenderer(s) name and address must be clearly stated in full. 5.3 The Offer/Tender Form is to be completed as stipulated and directed in the Offer Form/Tender Form. 5.4 Offerer/Tenderer(s) shall include their respective assigns, successors in title, heirs and/or personal representatives. 6. ACCEPTANCE 6.1 The Liquidators are not bound to accept the highest tender or any proposal. 6.2 The acceptance of any offer/tender by the Liquidators and communicated in writing to the successful Offerer/Tenderer shall constitute a valid agreement and shall bind the successful Offerer/Tenderer and Jade San Realty Sdn Bhd (In Liquidation) as if an agreement under any written law relating to the sale and purchase has been properly constituted and executed. 6.3 Upon the communication to the successful Offerer/Tenderer by the Liquidators of the acceptance of his/their offer/tender, the successful Offerer/Tenderer shall forthwith execute the Sale and Purchase Agreement ( SPA ) relating to the sale, within 14 days from the date of communication. 6.4 The SPA will be prepared by the Liquidators solicitors and the costs thereto shall be borne by the Offerer/Tenderer. The stamp duty on the SPA is to be paid by the Offerer/Tenderer. 6.5 The Liquidators shall not be held liable for breach of Clause 6.2 and Clause 6.3 strictly in the event that property cannot be delivered, third party lien imposed on the property Offered/Tendered and / or other matters (s) beyond the control of the Liquidators. As such, the successful tenderer will have their deposit refunded without interest upon communication on the matter(s) in writing. 7. DEPOSITS 7.1 All tender submission must be accompanied by a deposit equivalent to ten (10) per cent of the tendered price to be paid by way of a Bank Draft/Cashier s Order and to be made in favour of Jade San Reality Sdn Bhd (In Liquidation). Any tender submission not accompanied by such deposit, shall not be considered.

8 7.2 The successful Tenderer is required to pay the balance ninety (90) per cent tendered sum in favour of Jade San Realty Sdn. Bhd. (In Liquidation) within ninety (90) days from the date of the SPA. 7.3 The deposit paid by the successful Tenderer shall be accepted as part payment of the total tendered price. 7.4 Where the successful Tenderer fails to complete the transaction in all respects and in accordance with paragraphs 7.2 and 8, the Liquidators reserve the right to terminate the sale and absolutely forfeit all deposits paid as agreed liquidated damages and not by way of penalty. 7.5 Tenderer(s) will have their deposits refunded without interest upon rejection. 8. PAYMENT 8.1 Payment in Ringgit Malaysia of the total purchase price ( Purchase Price ) less the amount already deposited as described under paragraph 7.1, is to be made to the following addressee by way of Bank Draft/Cashier s Order, whichever the case may be, from the date of notification of acceptance of offer/tender by the Liquidators:- The Liquidators c/o HLB Ler Lum, B-3-11, Megan Avenue II, No. 12, Jalan Yap Kwan Seng, Kuala Lumpur. Tel. No.: Facsimile No.: The successful offerer is required to pay the full offer/tender price in favour of Jade San Realty Sdn Bhd (In Liquidation) within 90 days from the date of acceptance of the offer/tender is communicated in writing to the successful offerer/tenderer by the liquidators or if consent is required from the State Authorities, within ninety (90) days from the date the consent is received by the successful offerer. 8.3 Where the successful Offerer/Tenderer fails to pay the full purchase price for the property offered/tendered for within the time stipulated in paragraph 7.1 and 7.2 or within such extended time that may be granted by the Liquidators, the Liquidators reserves the right to cancel the sale. Thereafter, the Liquidators shall have the liberty to sell or otherwise dispose of the property to any party or parties at such price or in such manner as the Liquidators shall deem fit.

9 9. LEGAL FEES 9.1 The successful Offerer/Tenderer shall bear all cost, expenses, fees, stamp duty in relation to all matters to procure the registration and/or to give effect of an interest over the property in the name of the successful Offerer/Tenderer including the procurement of the release of charge and any other matters related thereto. 10. PAYMENT OF OUTGOINGS ETC 10.1 Quit rent, assessments, insurance premium, water rates, electricity bill, sewerage and drainage bills, assessment tax and any other outgoings, if any, payable in respect of the property, shall be apportioned between the successful offerer/tenderer and Jade San Realty Sdn Bhd (In Liquidation) as at the date of possession under paragraph 15.1 below The amount due by virtue of such apportionment shall be paid to the party entitled to the same on delivery of vacant possession of the property The Company shall not be responsible for outstanding charges and re-connection of the utilities supplies including water, telephone and electricity to the property. 11. REAL PROPERTY GAINS TAX 11.1 The successful offerer/tenderer shall submit the returns on the sale of the property as required under the Real Property Gains Tax Act, 1976 and will be responsible to pay the tax assessed by the Director General of Inland Revenue, if any in connection with the sale of the property. 12. REMOVAL OF ENCUMBRANCES 12.1 The successful Offerer/Tenderer shall, at his/their costs and expenses, cause all encumbrances, including private caveats lodged by any party (other than the successful Offerer/Tenderer) or anybody claiming under or through the successful Offerer/Tenderer against the property, if any, to be removed on or before the completion of the sale. 13. COST OF TRANSFER 13.1 Cost of transfer and all other fees payable in connection with the sale of the property shall be borne by the successful Offerer/Tenderer.

10 14. INCIDENTAL EXPENSES 14.1 The successful Offerer/Tenderer shall pay expenses such as insurance premium and other mutually agreed expenses in respect of the property from the date of acceptance of the offer/tender communicated in writing by the Liquidators. 15. RISK 15.1 As from the date of acceptance of the offer/tender by the Liquidators, the property shall be at the sole risk of the successful Offerer/Tenderer as regard to losses and/or damages caused by fire or other accident/perils whatsoever. 16. POSSESSION 16.1 Possession shall be effected on an as is where is basis upon completion of all legal documentations, other relevant formalities and settlement of the full Purchase Price within the time stipulated in paragraph 7 and all other monies payable to the Liquidators under the SPA in respect of sale of the property inclusive of obtaining approval by the successful Offerer/Tenderer, where applicable, from such State and/or Federal Authorities in which all such approval need necessarily be obtained within such time agreed upon between the successful Offerer/Tenderer(s) and Jade San Realty Sdn Bhd (In Liquidation). 17. APPROVAL FROM RELEVANT STATE AND FEDERAL AUTHORITIES 17.1 Where applicable, the sale is subject to express approval being obtained by the successful Offerer/Tenderer from the relevant State and/or Federal Authorities from whom all such approvals need necessarily be obtained for the completion of the purchase, by the purchaser and the cost, if any, is to be borne by the purchaser. 18. SANCTION BY COURT WHEN NECESSARY 18.1 The Liquidators may, if necessary, obtain an order from the Court sanctioning the sale. 19. TIME IS ESSENCE OF CONTRACT 19.1 Time whenever mentioned shall be of the essence.

11 20 EXCLUSION OF PERSONAL LIABILITY 20.1 The Offerer/Tenderer(s) hereby agrees and acknowledges that the Liquidators are acting as agent of Jade San Realty Sdn Bhd (In Liquidation) and accordingly the Liquidators shall have no personal liability under this document and the SPA, which is to be executed.

12 FIRST SCHEDULE EXPRESSION OF INTEREST ARE SOUGHT FOR THE PURCHASE OF THE PROPERTY COMPRISES UNDEVELOPED PARCELS OF DEVELOPMENT LAND MEASURING APPROXIMATELY ACRES AND ABANDONED BUNGALOW LOTS DEVELOPMENT (PHASE 1, 2, 2A, 2B & 3) KNOWN AS GENTING VALLEY PROJECT HELD UNDER LOT AND TITLE NOS (GRN 39990), 1342 (GRN 46247), 2527 & 2528 (GRN 40535) AND 2529 & 2530 (GRN 47606), ALL IN THE MUKIM OF BATANG KALI, DISTRICT OF ULU SELANGOR, STATE OF SELANGOR DARUL EHSAN. 1.0 THE SUBJECT PROPERTY The subject property comprises the following:- 1. Undeveloped parcels of development land. Lot No. Land Area (Acre) Lot Part of Lot 1342 (New Lot No. 2751) Part of Lot 2527 (New Lot No. 2754) Lot Part of Lot 2530 (New Lot No. 2951) Total Bungalow lots Phase Total No. of Lots No. of Lots Sold No. of Lots Redeemed No. of Lots Unsold Phase Phase Phase 2A Phase 2B Phase Total The above are part of the abandoned Genting Valley Project located along Batang Kali- Hulu Tamu road and Batang Kali- Kampung Ulu Rening road, approximately 5 km to Bandar Utama Batang Kali and 10 km to Ulu Yam Lama. 2.0 TITLE PARTICULARS The histories of the Master Titles have not been investigated and we recommend that solicitors be instructed to undertake this task. The following details were extracted from private searches of the Master Titles made at the Registry of Titles, Shah Alam, Selangor on 8th May 2007.

13 Title No. Lot No. Land Area (acre) Annual Rent GRN a 0r 30p ( ac) RM1, GRN a 2r 00p ( ac) RM2, GRN & 2528 (i) 199a 2r 15p ( ac) RM2, GRN & a 2r 10p ( ac) RM2, Total (ii) 743a 3r 15p ( ac) RM9, Common features for all titles:- Mukim : Batang Kali District : Ulu Selangor State : Selangor Darul Ehsan Tenure : Freehold Registered Owner : Lot 1333 Jade Sand Realty Sdn. Bhd. (now known as Jade San Realty Sdn Bhd) Category of Land Use : Nil Express Condition : Nil Restriction In Interest : Nil Lots 1342, 2527, 2528, 2529 & 2530 Jade San Realty Sdn. Bhd. Encumbrances : Charged twice to Hong Leong Finance Berhad vide as follows:- i) Presn. No /1995 Vol. 127 Fol. 13 dated August 14, ii) Presn. No /1996 Vol. 127 Fol. 9 dated August 28, Caveats : Lots 2527, 2528, 2529 & 2530 Numerous caveats endorsed on the title. Compulsory Acquisition : Lot 2527 & 2528 Part of the land measuring approximately 1,200 sq. ft has been compulsorily acquired by the Government vide Presn. No. 2562/1987 Vol. 3, Fol. 19 dated 16 th May WKN 1870 dated 28 th August (i) The net land area after deducting an area acquired is approximately acres. (ii) The total land area for all titles is now reduced to approximately acres.

14 Remarks The undeveloped parcels of development land about acres forms part of the above total land area ( acres). We note that the undeveloped lands have been approved for subdivision into various lots for agricultural lot (homestead lots) with subdivided individual titles pending issuance by land office. 3.0 TOWN PLANNING & PROPOSED DEVELOPMENT 3.1 Undeveloped Parcels of Development Land Pejabat Daerah Tanah, Hulu Selangor vide Letter bearing Ref. No. PTUS:3/14/95(28) dated 19th September 1996 corresponds to the sub-division plan registered under Plan. No. Bil. JPBD/B3/131/96/PB, has granted an approval for sub-division of Lots 1333, 1342, 2527 & 2529 into various lots for agricultural lots, subject to the conditions as stated in the said approval letter. On 30th April 1998, Jabatan Perancang Bandar Dan Desa, Negeri Selangor has given an approval to the amended proposed sub-division vide letter bearing Ref. No. JPBD/B3/11181/Sem.(8). The components of proposed development as stated in the Approved amended Sub-Division Plan (Certified as JPBD/B3/131A/96/PB) are as follows :- Components No. of Unit Acreage Percentage Agriculture Land Tenaga Nasional Berhad Water Tank Pump House Drain Reserve River Reserve Road Reserve Existing Road to be widened Total However, vide letter from Pejabat Daerah/Tanah Hulu Selangor bearing Ref. No. (40)dlm.PTUS3C/14/95 dated May 7, 1998, a re-application for sub-division has to be submitted for approval subject to the conditions stated in the letter. The conditions to be fulfilled are:- i ii iii iv v To re-submit application for sub-division (Borang 9A KTN) Minimum building line set-back for 53 feet To built new access road with 100 ft road reserve connecting Jalan Batang Kali- Genting Lama road with Kampung Ulu Rening Low cost house and social amenities allocation for owners of homestead lots to be built on Lots 3750 & 2952 when developed. For low cost house, conversion application has to submit 50% of the lots must be sold to Bumiputra

15 3.2 Bungalow Lots (Phase 1, 2, 2A, 2B & 3) 3.21 Phase 1, 2 & 3 These phases are erected on Lots 2952 (old Lot No. 2530) & 3750 (old Lot No. 2528). Lots 2952 (old Lot No. 2530) & 3750 (old Lot No. 2528) together with other lots, were approved for conversion by Pejabat Daerah Tanah Hulu Selangor vide letter bearing Ref. No. PTUS: 3B/30/95 (34) dated 7 th September 1996 subject to the conditions stated in the said letter. Conversion Premium and other fees levied are as follows:- Premium Tambahan - RM 2,079, Caruman Parit - RM 1,068, New Quit Rent - RM 188, Total RM 3,335, There is a balance of around RM200,000 yet to be paid On 5 th March 2003, Jabatan Perancang Bandar Dan Desa, Negeri Selangor vide letter bearing Ref. No. JPBD.Sel./07/01/00003(8) has certified the Pre-Computation Plan submitted as Plan No. JPBD.Sel./07/4B/98/PH-1. The development components are as follows:- Land Use No. of No. of Acreage Percentage Lot Unit Apartment Bungalow Lot (4,000 sq.ft. and above) Bungalow Lot Commercial Lot Dewan Surau Kindergarten Pusat Pembahagian Utama Sub-Station Kawasan Lapang Rizab Kolam Tadahan Air Tangki Penyedut & Rumah Pam Rumah Pam Kawasan Berlanskap Rizab Sungai Tamu Loji Penapisan Najis Rizab Pembentungan Simpanan JBA Simpanan Parit Simpanan Jalan Total

16 3.22 Phases 2A & 2B Phases 2A and 2B were formerly part of Item I (Undeveloped Lands) approval. However, an application has been submitted for a mix-development on this portion and approved by Jabatan Perancangan Bandar dan Desa, Negeri Selangor vide Approval Letter bearing Ref. No. JPBD.Sel./C7/01/00004/12 corresponds to the Approved Layout Plan certified as JPBD.Sel./07/05/2003/PS dated 9 th May The approved development components are as follows:- Land Use No. of Acreage Percentage Unit Bungalow Lot (more than 5,000 sq. ft.) Bungalow Lot (45 x80 ) Medium Cost Apartment Low / Low Medium Cost Apartment Surau (1) Kindergarten (1) Pump House Reserve (1) Drain Reserve Rezab Pembentungan Sub-Station (5) Open Area/Landscape/Buffer Zone Rezab Kolam Tadahan Air/Kawasan Hijau Road & others Total LOCATION The subject scheme is located along Batang Kali Hulu Tamu road and Batang Kali Kampung Ulu Rening road, approximately 4 km and 9 km to the north-east of Bandar Utama Batang Kali and Ulu Yam Lama, respectively. It is easily accessible from the Kuala Lumpur City Centre via Rawang Tanjung Malim trunk road and thereafter via Batang Kali Kampung Ulu Rening road. Alternatively, it is accessible from Sungai Tua Ulu Yam road and thereafter onto Batang Kali Kampung Ulu Rening road. From Kuala Lumpur Karak Highway, the subject property is accessible via an interchange at the foothill of Genting Highlands then onto the main road leading to Bandar Gohtong Jaya and thereafter onto Ulu Kali Bandar Gohtong Jaya road followed by Batang Kali Kampung Ulu Rening road. Batang Kali Kampung Ulu Rening trunk road runs through part of the subject scheme.

17 5.0 SURROUNDING LOCALITY Genting Valley project is planned to comprise bungalow lots, homestead lots, apartments, flats, business park, service centre, shophouses, a retirement village resort, a clubhouse cum resort and pitch and putt and equestrian facilities spanning over 790 acres of land. To the immediate south-west of the subject scheme is a bungalow lots development known as Taman Akasia Resort Homes.Further south-west are Kampung Kuantan, Taman Genting Permai, Taman Desa Jaya, a mixed development known as Bandar Utama Batang Kali, Kampung Sekolah, Ulu Yam Lama and Ulu Yam Baru. Kampung Ulu Rening is located to the north-east whilst to the south-east is a mixed development known as The Legend Farmstead comprising bungalow lots, apartments, a golf course and club house as well as commercial developments. Located further north-west are Batang Kali Industrial Area (MIEL), Taman Rasa Utama, Rasa Industrial Park, Rasa Town and Kuala Kubu Baru. Further to the south-east are Gohtong Jaya and Genting Highlands whilst further south-west is Serendah Town. 6.0 SITE 6.1 Undeveloped Parcels of Development Land The site for undeveloped parcels of development land is irregular in shape and generally undulating to hilly in terrain with some portions flat and valley. It is generally overgrown with oil palm trees, rubber trees, wild trees and shrubs. A stream runs through the southern portion of the subject site. It forms the larger northern portion of the Genting Valley site and has a total land area of approximately acres. The southern boundary of the site has frontage onto a metalled road known as Batang Kali Kampung Orang Asli road. Batang Kali Kampung Ulu Rening road runs through the mid portion of the site. 6.2 Abandoned Bungalow Lots Development (Phase 1, 2, 2A, 2B & 3) The site for Phase 1, 2 & 3 is located at the southern portion whilst site for Phases 2A & 2B is located at the middle-west portion of the Genting Valley site. The site for Phase 1 is already flat, leveled and ready to built houses with internal road ready, road lighting and electricity supplies ready for connection. At the time of our inspections, the site is not maintained and overgrown with bushes. The sites for Phases 2, 2A, 2B & 3 are cleared and leveled with earthworks done. These sites are generally elevated to flat in terrain. The site for Phase 2B is much higher than the frontage road (Kg. Kuantan Kampung Ulu Rening road) whilst the site for Phase 2A is about same level or slightly lower than the later road. Over time, soil erosion has occurred and it is envisaged that part of the earthworks may need to be done again.

18 7.0 SERVICES Mains water, electricity supplies and telephone lines are available in the vicinity and can be connected to the subject property upon development. Street lighting, road maintenance, sewage disposal and rubbish collection will be provided by Majlis Daerah Hulu Selangor (MDHS) and Alam Flora Sdn. Bhd. Public transportation in the form of buses and taxis is available in the vicinity. Note Disclaimer: The information provided herein under is given in good faith and in the belief that it is not false or misleading as at the date hereof. The Offerer/Tenderer(s) is/are required to conduct his/their own verification, inspection and/or the completeness and accuracy of such information provided herein. Neither Jade San Realty Sdn Bhd (In Liquidation) nor the Liquidator undertake any responsibility arising in anyway whatsoever for errors or omissions in this tender document, however caused and expressly disclaim any and all liabilities.

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