ACQUISITION OF MANAGEMENT RIGHTS OF AN LE COLUMBARIUM, OLD CHAO CHU KANG, SINGAPORE.

NV MULTI CORPORATION BERHAD

TypeAnnouncement
SubjectACQUISITION OF MANAGEMENT RIGHTS OF AN LE COLUMBARIUM, OLD CHAO CHU KANG, SINGAPORE.
ContentsFurther to our announcements dated 28 July 2008 and 29 July 2008, the Board of Directors of NV Multi Corporation Berhad (“NV Multi”) wishes to announce that Nirvana Memorial Garden Pte Ltd ("NMG") (Co. No. 200720733M), a 70%-owned subsidiary of NV Multi Corporation (Singapore) Pte. Ltd. (Company No. 200717313E) (“NVSing”) which is a wholly-owned subsidiary of NV Multi, had on 7 August 2008 completed the acquisition of management rights in An Le Columbarium, Singapore. A signed and sealed Deed of Novation has been delivered by Intersanctuary Limited (“Intersanctuary”) and Mt Prajna Limited in favour of NMG after NMG had on 4 August 2008 procured full settlement of Intersanctuary’s debt of S$37,665,376.40 (as at 30 June 2008) to Industrial and Commercial Bank of China Limited, Singapore Branch by the payment of S$10,500,000.

None of the Directors' and/or major shareholders of NV Multi and/or persons connected with them has any interest whether, direct or indirect, in this transaction.

All the above are available for inspection at the Registered Office of NV Multi at Level 3A, Wisma NV Multi, No. 1, Jalan 1/116A, Off Jalan Sungai Besi, 57100 Kuala Lumpur during normal office hours from Monday to Friday (except public holidays) for a period of fourteenth (14) days from the date of this announcement.

This announcement is dated 8 August 2008.


Announcement Info

Company NameNV MULTI CORPORATION BERHAD  
Stock Name NVMULTI    
Date Announced8 Aug 2008  
CategoryGeneral Announcement
Reference NoNM-080808-56845