Our earlier announcement on our Sale and Leaseback of Lot 11614, Mukim of Klang, District of Klang (“Tamadam 1”) refers. Tamadam is pleased to announce that the Sale and Leaseback of Tamadam 1 was completed on 15 December 2006.With the receipt of the proceeds from the Sale and Leaseback, Tamadam’s gearing will be reduced to only RM12.1 million. In addition, Tamadam will have cash deposits with financial institutions of RM6.8 million.
With the completion of the Sale and Leaseback, Tamadam’s cashflow and finance costs will be reduced substantially.