TFP SOLUTIONS BERHAD ("TFP" OR "COMPANY") PROPOSED DISPOSAL OF TWO (2) UNITS OF FOUR STOREY SHOP OFFICES ("PROPOSED DISPOSAL")

TFP SOLUTIONS BERHAD

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDZO-090827-53334
SubjectTFP SOLUTIONS BERHAD ("TFP" OR "COMPANY")
PROPOSED DISPOSAL OF TWO (2) UNITS OF FOUR STOREY SHOP OFFICES ("PROPOSED DISPOSAL")
ContentsReference is made to Bursa Malaysia Securities Berhad's query letter dated 27 August 2009 in respect of the announcement dated 25 August 2009 in relation to the Proposed Disposal.

Set out below are the response to the queries:-

1. The properties are fully occupied.
2. The breakdown of the proposed utilisation of proceeds are estimated as follows:- Settlement of TenInfo's borrowings RM1.12 million; Acquisition of new property RM2.5 million; Working capital RM1.23 million; and Incidental costs to the Proposed Disposal RM0.25 million.
3. There are no liabilities to be assumed by the Purchasers arising from the Proposed Disposal. The assignment of Property 2 to Malayan Banking Berhad will be lifted upon the settlement of the borrowings of TenInfo for Property 2 via the utilisation of part of the proceeds from the Proposed Disposal.
4. The date of the valuation report is 25 June 2009.

This announcement is dated 28 August 2009.
Query Letter ContentWe refer to TFP's announcement dated 25 August 2009 in respect of the above
mattter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The percentage of occupancy in relation to the properties.
The breakdown of the proposed utilisation of the proceeds arising from the
Proposed Disposal.
The particulars of all liabilities to be assumed by the purchasers arising
from the Proposed Disposal.
The date of valuation by Henry Butcher Malaysia (Sel) Sdn. Bhd.
Please furnish Bursa Securities with your reply via an announcement within one
(1) market day from the date hereof.
Yours faithfully


TAN YEW ENG
Head, Issuers
Listing Division, Regulation

TYE/ZOOS
c.c.Head, Market Surveillance Department, Securities Commission (via fax)


Announcement Info

Company NameTFP SOLUTIONS BERHAD (ACE Market) 
Stock Name TFP    
Date Announced28 Aug 2009  
CategoryGeneral Announcement
Reference NoMI-090828-50083