Posted by stella teo > 2012-07-19 20:34 | Report Abuse

Digistar wishes to announce as follows:

1. Based on the latest audited financial statements of SPSB as at 30 September 2011, the net loss and net assets of SPSB are as follows:

RM

Net Loss for the year ended 30 /09/ 2011 (148,414)

Net Assets as at 30/09/2011 89,271



2. The budgeted Gross Development Cost for The Heritage project was approximately RM97 million. The project was undertaken and managed by SPSB, therefore all the development and operating cost will be borne by SPSB.

3. Barring any unforseen circumstances, the expected profits to be derived from The Heritage for SPSB's portion is approximately RM52 million after deduction of the land owner's entitlement.

4. The current development status for The Heritage project is at 15% completion rate which has been certified by Qualified Architect on 14 June 2012 for the completion of earthwork and piling works.

5. The entire development cost shall be borne by SPSB. As SPSB is a subsidiary of Digistar, the development cost was funded and/or will be funded by bank borrowing of SPSB and internal generated funds of Digistar.

This announcement is dated 19 July 2012.

http://theheritagemelaka.com/gallery

Posted by stella teo > 2012-07-19 20:51 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1015625