05 December 2012

Sapphire Corporation - Disposal of Malacca Land - 4 December 2012

The Board of Directors of Sapphire Corporation Limited wishes to announce that its 100% subsidiary, Tudor Jaya Sdn Bhd, has entered into a S&P Agreement to sell 3 plots of vacant land in Kawasan Bandar VI Daerah Melaka Tengah, Melaka at a consideration of RM14,209,976.30 to Polytech Properties Sdn Bhd.

The Disposal constitutes a discloseable transaction under the provisions of Chapter 10 Rule 1006(c) of the listing manual of the SGX-ST:

Value of Consideration:         RM14,209,976.30 ($5,691,096)
Company's Market Cap:       $93,259,173
Size of Relative Figure:          6.1%

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