PROPOSED ACQUISITION BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, OF TWO (2) PIECES OF INDUSTRIAL FREEHOLD LANDS FROM MODERN UNIT SDN. BHD. FOR A TOTAL CONSIDERATION OF RM1,223,460 TOGETHER WITH ENTERING INTO TWO (2) BUILDING AGREEMENTS WITH BLESSPLUS SDN. BHD. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY TO BE ERECTED ON BOTH LANDS FOR A TOTAL CONSIDERATION OF RM4,346,400.00. (‘PROPOSED ACQUISTION”)

IRE-TEX CORPORATION BERHAD

Type Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID TE-150212-42260
Subject PROPOSED ACQUISITION BY IRE-TEX (JOHOR) SDN BHD, A SUBSIDIARY OF IRE-TEX CORPORATION BERHAD, OF TWO (2) PIECES OF INDUSTRIAL FREEHOLD LANDS FROM MODERN UNIT SDN. BHD. FOR A TOTAL CONSIDERATION OF RM1,223,460 TOGETHER WITH ENTERING INTO TWO (2) BUILDING AGREEMENTS WITH BLESSPLUS SDN. BHD. TO BUILD 1 STOREY WITH 2 MEZZANINE FLOORS SEMI-DETACHED FACTORY TO BE ERECTED ON BOTH LANDS FOR A TOTAL CONSIDERATION OF RM4,346,400.00. (‘PROPOSED ACQUISTION”)
Description Further to the Company’s announcement dated 10 February 2015 and Bursa Malaysia Securities Berhad's letter dated 12 February 2015, Ire-Tex Corporation Berhad wishes to provide additional information. Please refer to the attached file for details.

This announcement is dated 13 February 2015.
Query Letter Contents We refer to your Company's announcement dated 10 February 2015, in respect of 
the aforesaid matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa 
Securities") with the following additional information for public release:-

1. Whether any valuation was carried out on the Land. If so, to provide the 
name of the independent valuer, date and method of valuation and quantification 
of market value.
2. Net book value of Land 1 and Land 2 based on the latest audited financial 
statements and the encumbrances, if any.
3. Whether the mode of payment for BA 1 and BA 2 will be based on the stage of 
completion of the contruction works or fulfilment of all the condition 
precedents.
4. The detailed basis in deriving at the total purchase price of RM1,223,460 
and total contract sum of RM4,346,400 together with the justification, other 
than willing buyer and willing seller basis.
5. The details and basis of market value of construction cost that were used as 
the basis in determining the agreed contract sum.
6. The clause in the event of default by the Contractor.
7. The date of approval for the Building Plans on the Land 1 and Land 2 
together with the condition imposed.
8. The details of the current rented premises, i.e. location, size of premises, 
rental per annum, etc and further elaboration on how the Company will benefit 
from relocation to the new premises.
9. The risk petaining to interest risk fluctuation given that the Proposed 
Acquisition will be partly financed by bank borrowings.

Please furnish Bursa Securities with your reply within one (1) market day from 
the date hereof.




Page 2/-


Yours faithfully




HENG TECK HENG
Vice President, Issuers
Listing Division
Regulation
IJ/TEK

c.c:- General Manager and Head, Market Surveillance, Securities Commission 
(via fax)


Announcement Info

Company Name IRE-TEX CORPORATION BERHAD  
Stock Name IRETEX    
Date Announced 13 Feb 2015  
Category General Announcement
Reference No CC-150213-64317