News
Article entitled: "Bursa second quarter earnings surge 71%"
BackJul 28, 2006
| General Announcement Reference No BM-060728-62192 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 28/07/2006 |
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| Type | : | Announcement |
| Subject | : | Article entitled: "Bursa second quarter earnings surge 71%" |
Contents :
We refer to the news article appearing in The Star dated 28 July 2006 entitled "Bursa second quarter earnings surge 71%".
The article amongst others stated the following:-
"However, we will see how things progress in the next 12 to 18 months, especially the sale of the (Bursa) building, ....."
"Yusli said Bursa was studying several proposals for the sale of Exchange Square, valued at RM220mil."
We also wish to refer to our announcement dated 9 May 2005. We wish to clarify that Bursa Malaysia Berhad ("Bursa") is continuously improving its operational and financial efficiency, including balance sheet efficiency. One of the initiatives identified is the divestment of the main and annex buildings at Exchange Square ("Exchange Buildings").
We have received several proposals on the Exchange Buildings from interested parties, which have been deliberated at our Board level. At the present moment, no decision has been made to sell the Exchange Buidlings. The Board has decided that in the immediate term, the focus should be to maximise the occupancy rate of the Exchange Buildings by renting out the vacant space to external parties. This will enhance the rental yield and value of the building.
Any proposal to sell the Exchange Buildings, would require the prior approval of Federal Land Commissioner ("FLC") given that the land belongs to the FLC. Therefore, once decided, the initiative to sell the Exchange Buildings may take more than a year to materialise. The RM220 million mentioned in the article refers to the net book value of the Exchange Buildings only excluding the land value.
Bursa will make relevant announcement should a decision in respect of any divestment of the Exchange Buildings is made.