Investor Relations - News
Completion Of Sale And Purchase Agreement In Relation To The Sale Of Property By Metalock Castings Sdn Bhd
Further to the announcement made by the Directors of MTQ Corporation Limited (the " Company" or "MTQ") on 7 January 2005, the Directors of the Company are pleased to announce that its 99.9% owned subsidiary, Metalock Castings Sdn Bhd ("Metalock Castings"), has on 3 August 2005, completed the sale of its property to PMI-Technology Sdn Bhd ("PMI-Technology").
The final cash consideration of RM1,080,000 has been paid by PMI-Technology to Metalock Castings' solicitors as Stakeholders. Upon the expiry of 14 days of presentation of the transfer and charge documents in respect of the property for registration, the Stakeholders will release the sales proceeds net of other lawful payments payable ( if any ) to Metalock Castings.
BY ORDER OF THE BOARD
MTQ CORPORATION LIMITED
FONG CHOON SENG
COMPANY SECRETARY
4 August 2005