Location

:

Kuala Ketil, Kedah Darul Aman, Malaysia.

Total land area

:

1,109 acres  - 48,308,040 Sq. Ft.

Current position

:

Phase

App. land area

Remarks

1

-

Developed with industries in operation.

2

-

Development in progress. Majority of lots were sold.

3a

241 acres

Converted.

3b

366 acres

To convert as and when needed.

3c

279 acres

To convert as and when needed.

3d

223 acres

To convert as and when needed.

Selling price (p.s.f.)

:

RM2.00 ( US $0.53  (10/05/99) )   p.s.f. =  US $25,603,261as converted land   (exclude subdivision, building plans etc.) 

deposit

:

RM3,000,000.00 (US $ 789,452.88   (10/05/99) ) Agreement must be executed within fourteen days.

Proposal Two

Equity Participation

:

To form a joint venture company to purchase the subject land  for US $25,603,261 ( RM2.00   US $0.53  (10/05/99  p.s.f.)

Proposed Equity to Joint Venture Company

Existing land owner

:

30 %

Intending party

:

70 %

Cost of Construction & Others

Existing land owner

:

30 %

Intending party

:

70 %

Project Management

Subject to negotiation. The existing land owner, as an established developer, can offer its service at terms & conditions to be discussed.

deposit

:

RM3,000,000.00   (US $789,452.88   (10/05/99) ) and sign agreement within fourteen days.

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