PROCLAMATION OF SALE IN THE MATTER OF LOAN AGREEMENT CUM ASSIGNMENT DATED 4 AUGUST 1997 Between BI CREDIT & LEASING BERHAD (67040-T) (Formerly known as Kewangan Industri Berhad) THE ASSIGNEE/BANK SUKUMARAN A/L NADARAJA (NRIC No : A1592680) And THE ASSIGNOR/BORROWER In exercise of the rights and powers conferred upon The Assignee/Bank under the Loan Agreement Cum Assignment dated 4 August 1997, made between The Assignor/Borrower and The Assignee/Bank, it is hereby proclaimed that The Assignee/Bank with the assistance of the under mentioned Auctioneer will sell by PUBLIC AUCTION ON THURSDAY, 21 AUGUST 2014 AT 2.30 PM AT THE PREMISE OF HARTA PRIMA RESOURCES NO. 8C-01 (1 st Floor), JALAN TUN DR. AWANG, 11900 BAYAN LEPAS, PULAU PINANG The subject property is a double storey terrace house (intermediate unit) held under HSD 16910, Lot 6589, Mukim 15, District of Seberang Perai Selatan, Pulau Pinang bearing postal address of No. 68, Lorong Pekatra Indah 11, Taman Pekatra Indah, 14120 Simpang Ampat, Pulau Pinang with a provisional land area about 102 square metres (1,098 square feet). It is under 99-year leasehold interest expiring on 18 September 2093. The subject property will be sold on AS IS WHERE IS basis, subject to a Reserve Price of RM100,000/- (RINGGIT MALAYSIA : ONE HUNDRED THOUSAND ONLY) and the Conditions of Sale and also subject to the consent being obtained from the Developer/State and/or other relevant authorities. All expenses incurred in obtaining the said consent shall be borne by the Purchaser. The Assignee/Bank is not responsible to obtain such required consent prior and/or after the auction. The subject property will be sold by way of Assignment under the direction of MESSRS GHAZI & LIM for BI CREDIT & LEASING BERHAD. Notes : Bidders are advised to inspect the subject property and to make necessary enquiries and investigations with all the relevant authorities for the exact information of the subject property prior to the auction sale. Bidders are required to deposit a sum equivalent to 10% of the Reserve Price by way of The Bank Draft/Cashier s Order in favour of BI CREDIT & LEASING BERHAD, prior to the commencement of the auction sale and the balance to be settled within one hundred twenty (120) days from the date of the sale. All risks and expenses in connection with the purchase of the subject property will be borne solely by the successful Purchaser. For further particulars, please apply to MESSRS GHAZI & LIM of Units 69-1 & 69-2, Jalan Todak 6, Pusat Perniagaan Sunway Perdana, 13700 Seberang Jaya, Pulau Pinang (Ref. : B17/13/LAP/nsp) Tel. 04-3838238 Fax. 04-3838468 or the under mentioned Auctioneer. ABDUL LATIB BIN IBRAHIM (Licensed Auctioneer) HP : 019-4196700, 019-5896700 Tel/Fax : 04-6430105 Ref. : AUC-P(laca)113073(142) HARTA PRIMA RESOURCES (Company No. 1898336-A) No. 8C-01 (1 st Floor) Jalan Tun Dr. Awang 11900 Bayan Lepas, Pulau Pinang
CONDITIONS OF SALE 1. The said property is sold by BI Credit & Leasing Berhad, a company incorporated in Malaysia and having an office at Aras 18, Menara Bank Pembangunan, Bandar Wawasan, 1016, Jalan Sultan Ismail, 50250 Kuala Lumpur (hereinafter referred to as The Vendor ) over the said property pursuant to the terms of the Loan Agreement Cum Assignment dated 4 August 1997. 2. All intending bidders are required to deposit with the Auctioneer 10% of the fixed reserve price for the said property by Bank Draft/ Cashier s Order in favour of BI Credit & Leasing Berhad and to be deposited with Messrs Ghazi & Lim, who are the Solicitors of the Vendor prior to the auction sale. 3. The Vendor and/or its agent shall be entitled to bid at the auction and should the Vendor bid at the auction, Clause 2 aforesaid shall be waived and not applicable to the Vendor and/or its agent. 4. Subject to the reserve price, the highest approved bidder of the said property being so allowed by the Vendor or the Auctioneer shall be the Purchaser. The Vendor or the Auctioneer having the right to refuse any bid. If any dispute shall arise as to the highest bidder of the said property, shall at the option of the Vendor or the Auctioneer be put up again and resold or the Vendor or the Auctioneer shall decide the dispute. No bid shall be withdrawn or be less than the previous bid or less than the sum to be fixed by the Vendor or the Auctioneer at the time of sale. 5. The Vendor or the Auctioneer reserves the right to withdraw the said property at any time before the same is actually sold. 6. Immediately after the fall of the hammer, the Purchaser shall pay the difference between the reserve price and the purchase price (should the purchase/sold price is higher that the reserve price) to the Solicitors of the Vendor and in part payment thereof and shall sign the Memorandum at the foot of these conditions. All written notices and communication are to be deem duly delivered to and served upon the Purchaser by being left for him at or posted to his address mentioned in the said Memorandum unless he is represented by a solicitor. Should the Vendor and/or its agent bids and is the successful Purchaser, this Condition shall be waived and not be applicable to the Vendor and/or its agent. Instead, the Vendor and/or its agent shall be entitled to set off the full purchase price against the amount due on the Loan Agreement Cum Assignment on the date of sale plus all costs and expenses incurred for the conduct of the auction and the sale herein. 7. All requisition and objections, (if any) in respect of the title description of the said property or particulars or otherwise arising out of the sale and not precluded by these conditions shall be delivered in writing to the Solicitors of the Vendor within seven (7) days after the date of sale and every requisition or objection not so delivered shall be deemed to be waived and subject only to requisition and objections so delivered the title shall be considered accepted. Time being of the essence of the contract in this respect. 8. The said property to be sold is known as a double storey terrace house (intermediate unit) held under HSD 16910, Lot 6589, Mukim 15, District of Seberang Perai Selatan, Pulau Pinang bearing postal address of No. 68, Lorong Pekatra Indah 11, Taman Pekatra Indah, 14120 Simpang Ampat, Pulau Pinang with a provisional land area about 102 square metres (1,098 square feet).
9. The said property is sold without vacant possession and subject to all existing tenancies (if any) and all claims of tenants and occupiers by contract custom statute or otherwise. 10. The said property believed to be correctly described and the areas correctly given herein and no error or misdescription herein contained shall invalidate the sale or be the subject of compensation by either party. 11. The Vendor shall not be required to produce or deliver or procure to be delivered to the Purchaser deed or documents not in its possession nor shall it be liable for any expenses incurred in obtaining the delivery to the Purchaser of any such deed or document and no objection shall be made on the ground of such non-production or non-delivery. 12. Should any objection or requisition, whatsoever be made and insisted on which the Vendor shall be unable or unwilling to satisfy or comply with, the Vendor may (notwithstanding any attempt to remove or satisfy the same or any negotiation or litigation in respect thereof) by notice in writing to the Purchaser rescind the contract upon repaying to the Purchaser his deposit (without interest costs, expenses, compensation or other payment) which shall be accepted as full satisfaction of all claims under the contract or otherwise howsoever and the Purchaser shall return to the Vendor all title deeds documents and other papers furnished to him by or on behalf of the Vendor in connection with the sale. But the Purchaser may within seven (7) days after receiving notice to rescind, withdraw in writing the objection or requisition upon which the notice is founded in which case the notice to rescind shall be deemed to be withdrawn also. 13. In the event that the consent of the State Authority and/or the Developer is required for the sale herein, the Purchaser through its Solicitors shall make the necessary application for the required consent to be delivered. All expenses incurred in making such application (including administrative fees) and in obtaining the necessary consent shall be fully borne by the Purchaser. 14. Should the consent be granted by the State Authority/or the Developer with conditions (conditional consent), all such conditions, if any shall be complied with at the sole costs and expenses of the Purchaser and in the event that any of the condition(s) is not acceptable to the Vendor, the Vendor shall have the right to call off the sale and thereafter the Vendor shall refund to the Purchaser all monies paid by the Purchaser to the Vendor (except for the costs and expenses incurred in the application of consent pursuant to Section 13 hereinbefore stated) without interest which shall be accepted by the Purchaser as full satisfaction of all claims under contract or otherwise and the Purchaser.shall thereafter has no claim against the Vendor. 15. Should the required consent in Clause 13 failed to be obtained due to whatsoever reason other than failure on the part of the Purchaser in paying the expenses (including administrative fees) to the State Authority and/or Developer as provided in Clause 13 aforesaid or in the event of the sale being set a side by the Court for whatsoever reason, the Vendor shall refund the Purchaser the deposit paid by the Purchaser to the Vendor without interest which shall be accepted by the Purchaser as full satisfaction of all claims under contract or otherwise and the Purchaser shall thereafter has no claim against the Vendor and the Purchaser shall thereafter return to the Vendor all title deeds and related documents and other paper furnished by or on behalf of the Vendor in connection with the sale.
16. Completion of the purchase and payment of the balance purchase price shall take place within One Hundred Twenty (120) days from the date of the execution of the Memorandum at the foot of these conditions (hereinafter called the Completion Date ) at the office of Messrs Ghazi & Lim Units 69-1 & 69-2, Jalan Todak 6, Pusat Perniagaan Sunway Perdana, 13700 Seberang Jaya, Pulau Pinang, who shall hold 10% deposit and the balance purchase price in the solicitor s client s account and shall deal with or apply the same in the manner as set forth in Section 268 of the National Land Code. In any case of extension of time, the Purchaser/the Solicitor shall request in writing to The Vendor the desired extension before the expiry of the date in this Memorandum. The Vendor has absolute discretion to allow/refuse the extension and at liberty to impose any penalty/charge which deem fit. Upon payment of the balance money, the Purchaser shall be let into possession or the receipt of the rents and profits of the said property. For the purpose of the completion of the purchase and payment of the balance purchase money, time shall be the essence of the contract. In the event the Vendor and/or its agent being the successful bidder, paragraph 2 of Clause 6 hereinbefore shall applies. 17. The Purchaser shall in such assignment covenant with the Vendor and the Developer that the Purchaser shall mutatis mutandis perform and observe all the covenants, terms, conditions stipulations and agreement and pay all deposits, charges, expenses or other monies whatsoever mentioned or contained in the Sale and Purchase Agreement between the Developer and the Assignor or otherwise lawfully required by the Developer and shall further covenant with the Vendor to save harmless and keep the Vendor indemnified against all action proceedings claims, demand, penalties, costs and expenses which may be brought or made against or incurred by the Vendor by reason or on account of the non-observance or non-compliance of all or any of such covenants terms, conditions, stipulations, requirement and agreement or otherwise howsoever. Any arrears of quit rent, maintenance & management charges and assessment rate which may be lawfully due to any relevant authority or the Developer up to the date of the successful sale of the subject matter shall be paid out from the purchase money upon receipt of the full sale proceeds PROVIDED ALWAYS the aforegoing shall not include the payment(s) due and outstanding to SimCity-ETE Venture Sdn Bhd being the administrative fees, Tenaga Nasional Berhad, Telekom Berhad, Indah Water Konsortium Sdn Bhd and/or Perbadanan Bekalan Air Pulau Pinang Sdn Bhd for utilities and/or sewerage supplied to the property, thereafter the same shall be fully borne by the Purchaser. 18. As from the time of payment of the 10% of the purchase price as deposit by the successful bidder (Purchaser), the said property shall be at the sole risk of the Purchaser as regards malicious injury, loss or damage by fire or other accident or non-occupation or by reason of any matter whatsoever affecting and/or damaging the said property. 19. The said property has been and is open to inspection and the Purchaser shall be held to have had notice of all notices and requirements of Government and Local Authorities and all such notices and requirements shall be complied with by and at the expense of the Purchaser. The said property is likewise sold subject to any road widening drainage improvement or other schemes whatsoever affecting them and the Purchaser shall be deemed to have full knowledge of the nature and effect thereof and shall make no objection in respect thereof. 20. In the event of the Vendor expending any money in compliance with any requirements or demand made between the date of sale and completion by any Government and Local Authorities in respect of the said property the Purchaser shall on completion of the purchase repay to the Vendor the amount expended by it in compliance with such requirements before the completion of the purchase and the Purchaser shall indemnify the bank in respect thereof. In either case the Vendor upon receiving notice of any such requirement shall by notice give to the Purchaser the option of complying therewith and shall not spend any money for the purpose unless the Purchaser refuses or neglects to comply with the requirements.
21. Upon full payment of the balance purchase money or as soon as possible thereafter, the Purchaser/Purchaser s solicitors shall immediately attend to Discharge the subject property from Aseambankers Malaysia Berhad (formerly known as Maybank Investment Bank Berhad) and shall perfect the transfer process (direct/double) in favor of the Purchaser. In such events, the Purchaser shall fully bear all costs, charges, fees and expenses incurred/incidental with the above process to be payable to the related authority (s). 22. Should the Purchaser fail to observe or comply with any of the foregoing stipulations on his part or remit payment of the balance purchase price within the time allowed his deposit shall be forfeited to the Vendor who may resell the said property by public auction subject to such stipulations as it may think fit and any deficiency in price which may result on and all expenses in attending a resale or attempted resale shall be made good and paid by the defaulting Purchaser and be recoverable by the Vendor as damages. Any increase of price on a resale shall belong to the Vendor. 23. The solicitors for the Vendor shall entitled to retain sufficient monies for Real Property Gains Tax from the balance monies due to The Borrower (if any), after deduction of all monies due to the Vendor, Auctioneer s expenses and legal costs in respect of the foreclosure proceedings. If it is determined that the sale of the said property is not liable to such tax then the said monies retained shall be returned to The Borrower by the Solicitors of the Vendor but if on the other hand the sale of the said property is liable to such tax then the monies retained shall be utilized by the Solicitors of the Vendor to pay such tax. 24. The Vendor shall pay any Real Property Gains Tax imposed in regard of the sale herein from the proceed of sale in the event that no sufficient monies could be retained for Real Property Gains Tax after payment of the monies due to the Vendor and after deduction of all expenses and legal costs incurred in respect of the foreclosure proceedings in respect of this action. 25. The parties hereto shall within thirty (30) days from the date of sale duly submit to the Director General of Inland Revenue, West Malaysia, the notification forms prescribed under the Real Property Gains Tax Act in respect of the sale and purchase of the said property and furnish all such information, particulars and documents as may be required by the Director General in connection therewith. The Vendor shall furnish to the Purchaser a copy of the Certificate of Clearance in respect of the sale hereunder as soon as same shall have been issued by the proper authority. 26. The Purchaser shall not be entitled to nominate the assignment of the said property to its nominees. However, in the case of an agent bidding on behalf of his principal, then the said agent shall prior to the auction deposit with the Auctioneer and the Solicitors of the Vendor a letter of authority duly executed by the Purchaser authorizing the said agent to bid. In the event of the principal being a company, then a proper and valid resolution passed by the Directors and/or members of the company and/or minutes of the meeting as the case may be shall be deposited with the auctioneer and the Solicitors of the Vendor prior to the auction. 27. Time whenever mentioned shall be the essence of this Conditions of Sale.
MEMORANDUM IN THE MATTER OF LOAN AGREEMENT CUM ASSIGNMENT DATED 4 AUGUST 1997 Between BI CREDIT & LEASING BERHAD (67040-T) (Formerly known as Kewangan Industri Berhad) THE ASSIGNEE/BANK SUKUMARAN A/L NADARAJA (NRIC No : A1592680) And MEMORANDUM THE ASSIGNOR/BORROWER MEMORANDUM : At the sale by Public Auction this Thursday, 21 August 2014, of the property comprised in the foregoing particulars that is to say the rights title interest and benefits under the Loan Agreement Cum Assignment dated 4 August 1997 made between BI Credit & Leasing Berhad of the one part and of Sukumaran A/L Nadaraja, as all that double storey terrace house (intermediate unit) which erected on HSD 16910, Lot 6589, Mukim 15, District of Seberang Perai Selatan, Pulau Pinang bearing postal address of No. 68, Lorong Pekatra Indah 11, Taman Pekatra Indah, 14120 Simpang Ampat, Pulau Pinang with a provisional land area about 102 square metres (1,098 square feet). the highest bidder, has been declared the Purchaser of the said property for the sum of RM (Ringgit Malaysia : ). The Purchaser has paid to the Assignee via Lender s Solicitors, Messrs Ghazi & Lim, Units 69-1 & 69-2, Jalan Todak 6, Pusat Perniagaan Sunway Perdana, 13700 Seberang Jaya, Pulau Pinang, abovementioned as Stakeholders the sum of RM (Ringgit Malaysia : ) by way of deposit and agrees to pay the balance of the purchase money and complete the purchase according to the Conditions of Sale and the Auctioneer hereby confirms the said purchase and the Vendor s solicitors hereby on behalf of the Vendor acknowledge receipt of the said deposit in favour of the Vendor. Purchase Money : RM Deposit Money : RM Balance Due : RM SIGNED BY PURCHASER/ AUTHORISED AGENT SIGNED BY SOLICITORS MESSRS GHAZI & LIM