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[INCKEN] INCKEN 's Utilisation of Proceeds from Bangi Land Disposal

The profit of 107mil proceed from disposal of 448 acres Bangi land will furthur utilised to acquire new plantation, rubber related businesses, property development project in Kajang and upgrading of the hotels within the Group.
The property development at the land bank in Kajang of approximately 350 acres is ready for development as it is linked to Seremban, to the South, Putrajaya, to the West as well as Cheras and Kuala Lumpur to the North. As the location is extremely strategic, all that needs to be done is to put the right products and with good marketing strategies, the property development will be a success.
Other measures like, tourism sector via the refurbishment of the existing hotels.
Final, balance of $$$ within 3 months from the date of the SPA [signed on 30Dec 2010]or from the date when all conditions precedent to the SPA are met (if any), with further extension of 1 month .
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