GENERAL AND FINAL PROVISIONS Article 14
Promotion and Admission (1) Each Contracting Party shall, in its State territory, promote as far as possible investments by investors of the other Contracting Party and admit such investments in accordance with its national laws and regulations.
LOCATION AND DESCRIPTION The subject property is a Four (4) bedroom condominium bearing postal address as Unit No 10A-08-01, SOLOK XXXX XXXXXXXX, XXXXXX XXXXXX, 00000 XXXX XXXXXXXX, PENANG. Accommodation:- Residential. The property will be sold on an “as is where is” basis and subject to a reserve price of RINGGIT MALAYSIA: ONE MILLION ONE HUNDRED AND THIRTY FOUR THOUSAND ONLY (RM 1,134,000.00) and the Conditions of Sale by way of Direct Transfer from the above Developer or by way of assignment and subject to the consent being obtained by the Purchaser from the relevant authorities, if any, including all term, conditions, stipulations and covenants which were and may be imposed by the relevant authorities. The successful bidder (“the Purchaser”) shall be liable to pay any arrears of maintenance, quit rent, taxes, rates, assessment, charges, Tenaga Nasional Berhad and Telekom Berhad which may be due in respect of the said property together with the payment of administrative cost and legal fees (together with tax under GST where applicable) in respect of the transfer and/or the consent from the Developer and the relevant authorities and any late payment/penalty and other outgoings which may be due to any relevant authorities or the Developer in respect of the said property. All intending bidders are required to deposit 10 % of the fixed reserve price BY BANK DRAFT before commencement of Auction made in favour of STANDARD CHARTERED BANK for XXXX XXX XXXXX AND LAW XXXX XXX XXXXX and pay the difference and the sum equivalent to 10% of the successful bid price either in cash or bank draft or xxxxxx’x order to the Assignee. The balance of the purchase price is to be settled BY BANK DRAFT made payable to STANDARD CHARTERED BANK for XXXX XXX XXXXX AND LAW XXXX XXX XXXXX within ninety (90) days from the date of the sale to MESSRS. Ghazi & Lim, Solicitors for the Assignee. For further particulars, please apply to Messrs. Ghazi & Lim Solicitors for the Assignee/Bank at 19th Floor, Xxxxx XXX, Xx. 0, Xxxxx Xxxxxxxx, 10200 Penang.. Tel: 00-0000000 Fax: 00-0000000 (Ref:S137/12/JB/LB/lgc) or the under mentioned Auctioneer:-