Exhibit 99.1
This Agreement is made on the 29th day of March, 2004
BETWEEN
TS MATRIX BHD (Company No: 137599-H) a company incorporated in Malaysia with its
registered office at X-00-0, 00xx Xxxxx (Xxxxx X), Xxxxx Phileo Promenade, 000
Xxxxx Xxx Xxxxx, 00000 Xxxxx Xxxxxx, Xxxxxxxx (hereinafter referred to as the
"Seller");
AND
TRIO TECH (MALAYSIA) SDN. BHD. (Company No: 105390-V) a company incorporated in
Malaysia with its registered office at Xxxx 0X Xxxxx 0, Xxxxx Xxxxx, Xxxx Trade
Zone, Xxxxx Xxxxxx, 00000 Xxxxxx, Xxxxxxxx (hereinafter referred to as the
"Buyer").
WHEREAS:-
1. The Seller has been carrying on the business of conditioning, testing and
assembly of semiconductor components and electronic contract
manufacturing, part of which consists of a burn-in testing division
dealing with testing of semiconductor components (hereinafter referred to
as the "Division").
2. The Seller wishes to sell the Business (as hereinafter defined) to the
Buyer.
3. The Seller's main client is the Customer and the Seller and the Customer
have signed the Contract (as hereinafter defined).
4. The Seller wishes to sell and the Buyer wishes to acquire Business by:-
a] the Buyer acquiring the Movable Assets from the Seller;
b] the Buyer offering employment to the Selected Employees upon the
terms stipulated in the Letters of Offer (as hereinafter defined);
c] the Buyer occupying the Premises subject to the Tenancy Agreement;
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d] the Buyer negotiating the New Contract (as hereinafter defined) with
the Seller's assistance and cooperation;
[sub-clauses a] to d] hereinafter referred to as "the Acquisition"]
subject to terms and conditions of this Agreement.
NOW IT IS HEREBY AGREED as follows:-
1. INTERPRETATION
1.1 Definitions
In this Agreement, where the context admits:-
"Accounts" means the latest audited profit and loss accounts as well as the
management accounts (which shall be not earlier than 31st December 2003)
relating to the Business and the Contract;
"Affiliate" means in respect of any body corporate, a body corporate which is
its subsidiary or holding company or related company (as defined in the
Companies Act 1965);
"Bankers Guarantee" means a bankers guarantee issued by a licensed bank in
Malaysia securing the payment of the Balance Sum due by the Buyer to the Seller
under Clause 3.2.2(b), which the Seller can call upon at anytime from the expiry
of seven (7) days from the Expiry Date until and up to thirty (30) days from the
Expiry Date;
"Balance Sum" has the same meaning as defined in Clause 3.2.2(b) hereto;
"Business" means the business of the Division;
"Buyer's Solicitors" means Messrs Xxxx Xx Peen & Tunku Alina of 21-6 & 00-0,
Xxxxx X, Xxx Xxxxxxxxx, Xxx Xxxxxx Xxxx, Lingkaran Xxxx Xxxxx, 00000 Xxxxx
Xxxxxx, Xxxxxxxx or such firm of advocates and solicitors as appointed by the
Buyer from time to time;
"Consignment Assets" means the assets (including any spare units) belonging to
the
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Customer consigned to the Seller for the purposes of the Contract;
"Customer" means MOTOROLA MALAYSIA SDN.BHD;
"Completion Date" means the day following the Buyer's payment of Ringgit
Malaysia One Million Six Hundred and Fifty Thousand (RM1,650,000.00) only paid
in the manner stipulated in Clause 3.2.2(a) hereof and delivery of the Bankers
Guarantee in the manner stipulated in Clause 3.3 hereof;
"Completion Period" means up to seven (7) days from the date of fulfillment or
satisfaction of the Conditions Precedent or such extended period as may be
agreed between the parties;
"Conditions Precedent" means the conditions precedent to the sale and purchase
of the Business described in Clause 6.1 hereof;
"Contract" means the contract to supply dated 1st October 2002 made between the
Customer and the Seller effective for a period of one year to be renewed
automatically or terminated by the Customer with thirty (30) days notice (by the
Seller with six (6) months notice) (which term shall include any variations and
amendments thereto);
"Direct Workers" mean approximately 77 workers whose names and particulars to be
provided by the Seller pursuant to Clause 6.2.1 herein;
"Employees" mean the Direct Workers, Key Employees, Shared Employees employed by
the Seller in the Business;
"day" means any day in the week from Mondays to Fridays excluding Saturday,
Sunday or any public or gazetted holidays in Kuala Lumpur, Selangor or
Singapore;
"Expiry Date" means the last day of a six (6) calendar month period commencing
from the Completion Date;
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"Financier" means any bank or financial institution which may have granted any
loan facilities to the Seller upon the security of any of the Movable Assets,
the Leased Assets or the other assets of the Seller;
"Key Employees" mean approximately 57 workers whose names and particulars to be
provided by the Seller pursuant to Clause 6.2.1 herein;
"Landlord" means either POLYMOLD TOOL & ENGINEERING SDN. BHD. (Company No.:
14934 M) a company incorporated in Malaysia with its registered office at
X-00-0, 00xx Xxxxx (Xxxxx X), Xxxxx Phileo Promenade, 000, Xxxxx Xxx Xxxxx,
00000 Xxxxx Xxxxxx, Xxxxxxxx or TS MATRIX PROPERTIES SDN. BHD. (Company No.
639889-U) a company incorporated in Malaysia with its registered address at
X-00-0, 00xx Xxxxx (Xxxxx X), Xxxxx Phileo Promenade, 000, Xxxxx Xxx Xxxxx,
00000 Xxxxx Xxxxxx, as the case may be, being the legal and beneficial
proprietor of the lands on which the Premises are located at the relevant time;
"Leased Assets" mean the assets leased by the Seller from the Financier as
listed in Schedule 2 hereto;
"Letters of Offer" means the letters of offer to work to be made by the Buyer to
the Selected Employees on such terms and conditions as the Buyer normally offers
to its employees and which shall be comparable to the present employment terms
offered by the Seller;
"Movable Assets" means the movable assets at the Premises belonging to the
Seller and required for use for the Business, a list of which is attached
herewith as Schedule 3;
"New Contract" means the contract to supply to be made between the Customer and
the Buyer on substantially the same terms and conditions as the Contract;
"Premises" means part of the factory space at Xxx 00X, Xxxxx XX0/0, Xxxxxx Xxx
Free Industrial Xxxx, 00000 Xxxxxxxx Xxxx, Xxxxxxxx measuring approximately
19,334 square feet together with electricity and water connection and such other
services to be specified in the Tenancy Agreement;
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"Restricted Business" means the business of burn-in testing within Malaysia and
Singapore and which directly competes with the Business in Malaysia and
Singapore;
"Secondment Arrangement" means the agreement between the parties to second a
selected number of the Direct Workers (which selection has to be confirmed by
the Buyer) from the Completion Date until the expiration of such worker's
contract and the Buyer shall reimburse the Seller for such workers on the basis
of the costs incurred by the Seller;
"Selected Employees" mean the employees from the Employees to be selected by the
Buyer from the list provided by the Seller in accordance with Clause 6.2.1 to
whom the Buyer will offer employment under the Letters of Offer;
"Selected Leased Assets" means the assets selected by the Buyer from the Leased
Assets which shall have a minimum redemption value of not less than Ringgit
Malaysia Seven Hundred Thousand (RM700,000.00) only;
"Seller's Group" means the Seller and each of its Affiliates;
"Seller's Solicitors" mean Xxxx Xxxxxxx & Co. Limited Partnership of 0 Xxxxxxx
Xxxx #00-00, Xxxxxxx Xxxxxxx Xxxxxxxx, Xxxxxxxxx 000000 or such firm of
advocates and solicitors as may be appointed by the Seller from time to time;
"Shared Employees" mean approximately 4 workers whose names and particulars to
be provided by the Seller pursuant to Clause 6.2.1 herein;
"Tenancy Agreement" means the sub-tenancy agreement to be executed between the
Seller and the Buyer (with the consent of the Landlord) in respect of the
Premises in the format as attached in Schedule 4 hereto;
"Third Party Rights" means all rights of the Seller against third parties
arising out of or in connection with the Movable Assets including all rights
under or in respect of manufacturer's or
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supplier's warranties, guarantees and other contractual obligations and
assurances (express or implied) for the Movable Assets; and
"Warranties" mean the warranties and representations set out in Schedule 1.
1.2 Construction of Certain References
In this Agreement, where the context admits:
1.2.1 where any statement is qualified by the expression so far as the Seller is
aware or to the best of the Seller's knowledge and belief or any similar
expression, that statement shall be deemed to include and additional
statement that it has been made after due and careful enquiry;
1.2.2 references to Clauses and Schedules are references to clauses and
schedules of and to this Agreement, references to Sub-Clauses or
paragraphs are, unless otherwise stated, references to Sub-Clauses of the
Clauses or paragraphs of the Schedule in which the reference appears, and
references to this Agreement include the Schedules; and
1.2.3 The headings and sub-headings are inserted for convenience only and shall
not affect the construction of this Agreement.
1.3 Joint and Several Liabilities
All warranties, representations, indemnities, covenants, agreements and
obligations given or entered into by more than one person in this Agreement are
given or entered into jointly and severally.
2. SALE OF BUSINESS
2.1 Sale and Purchase
In consideration of the Deposit paid by the Buyer, the Seller hereby agrees to
sell the Business and the Buyer hereby agrees to purchase the Business upon the
terms and conditions hereunder.
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2.2 No Sale of Part Only
Subject as provided in Clause 4, the Buyer shall not be obliged to complete the
Acquisition unless the Conditions Precedent shall have been fulfilled.
2.3 Exchange of Documents
2.3.1 Simultaneously with the execution of this Agreement, the Seller shall
deliver to the Buyer the following documents:-
(a) the Seller's certificate of incorporation and memorandum and
articles of association, certified as true copy by a director or the
company secretary of the Seller;
(b) the Seller's form 24 and form 49 certified as true copy by a
director or the company secretary of the Seller;
(c) the Seller's board of directors' resolution (or an extract thereof)
approving the Acquisition and authorising the execution, delivery
and performance of this Agreement and if required the affixation of
the common seal of the Seller (in accordance with the Seller's
memorandum and articles of association) on all other relevant
documents in respect of the Acquisition to the Buyer, certified as
true copy by a director or the company secretary of the Seller; and
(d) (if necessary) the Seller's shareholders' resolution (or an extract
thereof) approving the Acquisition certified as true copy by a
director or the company secretary of the Seller.
2.3.2 Simultaneously with the execution of this Agreement, the Buyer shall
deliver to the Seller the following documents:-
(a) the Buyer's certificate of incorporation and memorandum and articles
of association, certified as true copy by a director or the company
secretary of
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the Buyer;
(b) the Buyer's form 24 and form 49, certified as true copy by a
director or the company secretary of the Buyer;
(c) an extract of the Buyer's board of directors' resolution approving
the Acquisition and authorising the execution, delivery and
performance of this Agreement and if required the affixation of the
common seal of the Buyer (in accordance with the Buyer's memorandum
and articles of association) on all other relevant documents in
respect of the Acquisition certified as true copy by a director or
the company secretary of the Buyer; and
(d) an extract of the Buyer's shareholders' resolution approving the
Acquisition certified as true copy by a director or the company
secretary of the Buyer.
3. CONSIDERATION
3.1 Amount
The consideration for the Acquisition shall be the sum of Ringgit Malaysia Three
Million Five Hundred Thousand (RM3,500,000.00) only (hereinafter referred to as
"the Purchase Price").
3.2 Method and Timing for Payment of Consideration
The consideration for the Acquisition shall be paid by the Buyer in the
following manner:-
3.2.1 the payment of the sum of Ringgit Malaysia Three Hundred and Fifty
Thousand (RM350,000.00) only (hereinafter referred to as the "Deposit") to
the Seller by way of a banker's cheque upon the execution of this
Agreement;
3.2.2 the payment of the sum of Ringgit Malaysia Three Million One Hundred and
Fifty Thousand (RM3,150,000.00) only in the following manner:-
(a) Ringgit Malaysia One Million Six Hundred and Fifty Thousand
(RM1,650,000.00) only to the Seller by way of banker's cheque within
the
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Completion Period; and
(b) Ringgit Malaysia One Million Five Hundred Thousand (RM1,500,000.00)
only (hereinafter referred to as "the Balance Sum") no later than
seven (7) days from the Expiry Date by way of banker's cheque to the
Seller.
3.3 The Bankers Guarantee
As security for the payment of the sum due under Clause 3.2.2(b) above the Buyer
shall deliver the Bankers Guarantee (which the Buyer shall procure on terms
satisfactory to the Seller) to the Seller within the Completion Period. The
Seller shall be entitled to deal with the Bankers Guarantee in the manner as
follows:
(a) call upon in the event the Buyer fails to pay the Seller in accordance
with Clause 3.2,2(b) or Clause 3.5 (as the case may be); or
(b) return the Bankers Guarantee to the Buyer for cancellation upon the
Seller's receipt of the Buyer's payment in accordance with Clause 3.2.2(b)
or Clause 3.5 (as the case may be); or
(c) return the Bankers Guarantee to the Buyer in the event of a termination of
this Agreement occurring under Clause 3.4.1 hereunder.
3.4 Termination of the New Contract
In the event the New Contract is terminated by the Customer on or before the
Expiry Date by reason of the Seller's fundamental breach of its contractual
obligations under the Contract resulting in the Customer incurring or suffering
damages to the extent that the Customer refuses to or cannot engage the Buyer's
services through the Business prior to the Completion Date, the Buyer shall be
entitled (but not obliged) to serve a notice (hereinafter referred to as "the
Termination Notice") terminating this Agreement on the Seller no later than
seven (7) days from the Expiry Date and;
3.4.1 the Buyer may terminate this Agreement, before the seventh (7th) day from
the Expiry Date, provided the New Contract has been terminated by the Customer
in accordance with Clause 3.4, by serving the Termination Notice on the Seller
whereupon the Seller shall within
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three (3) days of the date of receipt of such notice (hereinafter referred to as
"the Termination Date"):-
(a) refund to the Buyer all sums paid by the Buyer towards the Purchase
Price free of interest;
(b) refund to the Buyer all deposits (less rental due or accrued) and
other sums collected under the Tenancy Agreement;
(c) pay to the Buyer all sums (but free of interest) paid by the Buyer
to the Financier towards the redemption of the Selected Leased
Assets against the Buyer's return of the Selected Leased Assets in
the same condition as when they were first delivered to the Buyer
pursuant to Clause 4.2 herein (fair wear and tear excepted);
(d) return the Bankers Guarantee to the Buyer for cancellation;
and
3.4.2 upon receipt of the sums mentioned in Clause 3.4.1 above, the Buyer shall
forthwith:-
(a) vacate the Premises leaving the Movable Assets and the Selected
Leased Assets in the same condition as when they were first
delivered to the Buyer pursuant to Clause 4.1 and Clause 4.2 herein
(fair wear and tear excepted);
(b) pay to the Seller all sums due and owing by the Buyer to the Seller
under the Secondment Arrangement (if applicable) up to the
Termination Date;
and thereafter; this Agreement shall be null and void and of no effect
whatever and neither party shall have any right or claim against the other
save for any antecedent breaches;
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3.4.4 the Tenancy Agreement shall be deemed to be terminated and of no effect
whatever and neither party shall have any right or claim against the other
save for any antecedent breaches;
3.4.5 the Secondment Arrangement shall (where applicable) be deemed to be
terminated and of no effect whatever and neither party shall have any
right or claim against the other save for any antecedent breaches;
PROVIDED ALWAYS that the Buyer shall be entitled to all income and be liable for
all expenses of the Business accrued between the time of delivery of the assets
pursuant to Clause 4 herein and the Termination Date.
3.5 Buyer's Election not to Rescind
In the event that the New Contract is terminated by the Customer on or before
the Expiry Date by reason of the Seller's fundamental breach of its contractual
obligations under the Contract resulting in the Customer incurring or suffering
damages to the extent that the Customer refuses to or cannot engage the Buyer's
services through the Business but the Buyer elects not to rescind this
Agreement, then the Buyer shall not later than seven (7) days from the Expiry
Date pay the Balance Sum to the Seller by banker's cheque.
4. COMPLETION
4.1 Delivery of Movable Assets
The delivery of the Movable Assets shall take place at the Premises at noon (or
such other time as may be mutually agreed) on the Completion Date. The Buyer
shall verify and demonstrate at the Premises that the working condition of the
Movable Assets are consistent with the specifications provided in the list of
Movable Assets under Schedule 3.
4.2 Delivery of Selected Leased Assets
Subject to Clause 6, the Seller shall at noon (or such other time as may be
mutually agreed) on Completion Date deliver to the Buyer the Selected Leased
Assets unless the Financier fails to discharge the Selected Leased Assets
through no fault of either parties in which event, the delivery of the Selected
Leased Assets will take place at such other time as may be
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mutually agreed.
4.3 Delivery of Tenancy Agreement
On the date of execution of this Agreement the Seller shall deliver four (4)
undated copies of the duly executed Tenancy Agreement to the Seller's Solicitors
as stakeholder who shall, upon their receipt of the Seller's written
confirmation that all deposits or other sums payable under the Tenancy Agreement
by the Buyer have been settled on or before the Completion Date, date and
release the same to the Buyer's Solicitors for stamping purposes.
4.4 Buyer's and Seller's obligations to redeem the Selected Leased Assets
4.4.1 The Buyer hereby confirms and agrees that it will assume the obligation to
pay the principal portion only of the redemption sum due to the Financiers
for the redemption of the Selected Leased Assets on or before the
Completion Date.
4.4.2 The Seller hereby confirms and agrees that it will assume the obligation
to pay the interest portion only of the redemption sum due to the
Financiers for the redemption of the Selected Leased Assets on or before
the Completion Date.
4.5 Seller's Obligations and Covenants
The Seller:-
4.5.1 covenants on the Completion Date to pay, satisfy, discharge and fulfill
all costs, claims, expenses, liabilities, obligations and undertakings
whatsoever relating to the Business (in particular the Contract) and the
Seller's employees (including any retrenchment or statutory benefits to be
paid) arising in respect of or by reference to any period up to the
Completion Date and will indemnify and hold harmless the Buyer in respect
of the same;
4.5.2 acknowledges that the Buyer shall not be liable in any respect of any
liability of the Seller for taxation arising from its conduct of the
Business pursuant to this Agreement and the Seller shall fully and
effectually indemnify and hold harmless the Buyer in
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respect of the same;
4.5.3 hereby agrees to effect or implement the Secondment Arrangement upon the
terms hereto;
4.5.4 hereby agrees to deliver copies of any records (which are not subject to
confidentiality restrictions imposed on the Seller) which relate to the
Contract for purposes of the Buyer's examination of the Contract under
Clause 6.1.1(iii);
4.5.5 to the extent it is bound by confidentiality restrictions (whether implied
or express) made to or with a third party, hereby agrees to use all
reasonable endeavours to obtain written waivers or consents from such
third party which would allow the Seller to disclose the relevant
confidential information for purposes of the Buyer's examination (where
applicable) under this Agreement; and
4.5.6 hereby agrees to cause and procure that its holding company, Xxxx Sing
Holdings Limited, shall execute the letter (in the format as attached in
Schedule 5 hereto) in favour of the Buyer within fourteen (14) days from
the date of this Agreement.
5. OFFER OF EMPLOYMENT
5.1 Employment of the Selected Employees
5.1.1 The Buyer hereby agrees to select the Selected Employees from the
list provided by the Seller of its Employees and will issue the
Letters of Offer to the Selected Employees on or before the
Completion Date Provided That the Seller shall be kept informed of
the same beforehand.
5.1.2 For purposes of Clause 5.1.1 hereof, the Seller shall use its best
efforts to assist the Buyer in the selection process.
5.1.3 The Seller shall be solely responsible for the payment of any
benefits (including
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retrenchment benefits), statutory payments and all other obligations
towards all their employees and the Buyer shall not be responsible
or bound to pay any of the aforementioned or to employ any of them
save for the employment of the Selected Employees under the Letters
of Offer.
5.2 Performance Incentive Package
The Buyer hereby agrees and undertakes to include in its Letters of Offer to the
Selected Employees a performance incentive package amounting to an aggregate of
Ringgit Malaysia Three Hundred Thousand (RM300,000.00) only payable to the
Selected Employees over a period of twenty-four (24) calendar months upon such
terms and conditions as the Buyer may decide.
6. CONDITIONS PRECEDENT
6.1 Conditions Precedent
The completion of this Agreement shall be conditional upon the fulfilment of the
following conditions precedent:-
6.1.1 the Buyer after due examination and inspection being satisfied with:-
(i) the financial information provided;
(ii) the working condition of the Movable Assets being consistent with
the specifications provided in the list of Movable Assets under
Schedule 3;
(iii) the terms of the Contract;
(iv) the current contracts enjoyed by the Selected Employees to the
extent that the same is comparable to that offered by the Buyer to
its employees.
6.1.2 the Buyer having obtained the requisite manufacturing license from the
Ministry of International Trade and Industry to conduct the Business and
the Buyer being satisfied that the Seller has all the licenses, permits
and relevant approvals required for the conduct of the Business;
6.1.3 the acceptance of the Letters of Offer by at least fifty five per cent
(55%) of the Selected Employees; and
6.1.4 the New Contract having been executed by both the Buyer and the Customer.
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6.2 Duties of the Seller
The Seller shall, to the extent it is not bound by confidentiality covenants
(whether implied or express) made to or with a third party:-
6.2.1 within fourteen (14) days of the execution of this Agreement allow the
Buyer access to the Premises and provide the Buyer with all the
information relating to and incidental to the Business, the Accounts, the
Consignment Assets, the Movable Assets, the Leased Assets, the Seller's
employees in the Business and the Contract (including any variations
amendments thereto) as well as a copy of the Contract;
6.2.2 within fourteen (14) days of the execution of this Agreement together with
the Buyer jointly inspect the Premises, the Movable Assets, the Leased
Assets and the Consignment Assets;
6.2.3 within fourteen (14) days of the execution of this Agreement deliver to
the Buyer copies of all licenses, permits and relevant approvals required
for the conduct of the Business;
6.2.4 after satisfaction of Clause 6.1.1, allow the Buyer access to the Selected
Employees of the Business for purposes of selecting the Selected
Employees;
6.2.5 upon receipt of the Buyer's Letter of Confirmation (as defined in Clause
6.3) arrange for a meeting between the Customer and the Buyer and where
requested by the Buyer, to assist in facilitating the Buyer's negotiations
with the Customer on the New Contract; and
6.2.6 upon receipt of the Buyer's Letter of Confirmation (as defined in Clause
6.3), apply for and obtain the redemption statement from the Financier in
respect of the redemption sum for the Selected Leased Assets.
6.3 Duties of the Buyer
6.3.1 The Buyer shall within twenty one (21) days of receipt of the documents
mentioned in Clause 6.2.1 and Clause 6.2.3 above and inspection carried
out under Clause 6.2.2 issue a letter to the Seller declaring whether the
conditions described in Clause 6.1.1 have been satisfied (hereinafter
referred to as "Letter of Confirmation"). In the event that the Letter of
Confirmation does not confirm the fulfilment of Clause 6.1.1, then Clause
6.5 below shall apply.
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6.3.2 The Buyer must, once the Buyer decides that Clause 6.1.1 is satisfied, at
the same time as the issuance of the Letter of Confirmation provide the
Seller with the list of the Selected Leased Assets and the Buyer hereby
covenants to select and acquire those Selected Leased Assets with
redemption value (in aggregate) of not less than Ringgit Malaysia Seven
Hundred Thousand (RM700,000.00) only; and where the said value of
RM700,000.00 could only be attained by acquiring more than one item, the
Purchaser shall acquire such additional item(s) notwithstanding that the
combined Redemption Value would be in excess of RM 700,000.00.
6.4 Time for Fulfilment of Conditions Precedent
All the Conditions Precedent are to be fulfilled on or before the expiry of
three (3) calendar months of this Agreement (hereinafter referred to as "the
Cut-Off Date"). In the event any one of the Conditions Precedent is not
fulfilled by the Cut-Off Date, the date for fulfilment of the Conditions
Precedent shall be extended to such other date as may be mutually agreed by the
parties (such extended date shall hereinafter be referred to as the "Extended
Cut-Off Date").
6.5 Non-Fulfilment of Conditions Precedent
In the event any one of the Conditions Precedent is not fulfilled on or before
the Cut-Off Date and the Cut-Off Date is extended to the Extended Cut-Off Date
pursuant to Clause 6.4, or any one of the Conditions Precedent is not fulfilled
on or before the Extended Cut-Off Date, either party shall be entitled to elect
to terminate this Agreement by written notice to the other then the Seller shall
refund or cause to refund to the Buyer the Deposit and all other monies paid by
the Buyer under this Agreement towards payment of the Purchase Price free of
interest and in exchange for the aforesaid refund, the Buyer shall return to the
Seller all documents released to the Buyer pursuant to Clause 6.2.1 and Clause
6.2.3 above and thereafter, this Agreement shall be null and void and of no
effect whatever and neither party shall have any right or claim against the
other save for any antecedent breaches.
6.6 Parties' Obligation
6.6.1 The parties shall use their best endeavours (where appropriate) to satisfy
and assist one another to satisfy the Conditions Precedent by the Cut-Off
Date. The parties
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shall also forthwith furnish such information required by the other party
for the purposes of an application to be made or for the purposes of
fulfilling a Condition Precedent, without unreasonable delay and in any
case, within fourteen (14) days from the date of requisition unless it is
unduly difficult to comply due to situations beyond the parties' control
and in such event mutual agreement to extend the said aforesaid period, A
copy of all such applications and appeals and all approvals or rejections,
as the case may be, should be forthwith forwarded to the other party upon
issue or receipt (as the case may be) of the same.
6.6.2 The neglect, failure and/or refusal by any party to do any procedural or
preparatory deed and/or act required to be done to obtain the fulfilment
of the Conditions Precedent by a party (which is within its power)
(hereinafter referred to as "the Defaulting Party") shall be a breach of
this Agreement which will entitle the other party (hereinafter referred to
as "the Non-Defaulting Party") to:-
(a) the remedy of specific performance or damages in lieu thereof ;or
(b) the right by notice in writing to the Defaulting Party to terminate
this Agreement whereupon the Seller shall refund or cause to be
refunded to the Buyer the Deposit free of interest and all other
monies paid by the Buyer to the Seller;
and thereafter this Agreement shall be null and void and of no effect
whatever and neither party shall have any right or claim against the other
save for any antecedent breaches.
7. SELLER'S COVENANTS
7.1 Ceasing of the Business
The Seller will at its own cost and expense cease carrying on the Business after
the Completion Date.
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7.2 Non-Competition - the Seller
The Seller undertake with the Buyer and its successors in title that within the
period of three (3) years from the Completion Date it will not and that it will
procure that none of its Affiliates (other than: (a) the Seller's holding
company, Xxxx Sing Holdings Limited of 0 Xxxxx Xxxx #00-00, Xxx Xxxxx, Xxxxxxxxx
000000 who shall execute the letter referred to in Clause 4.5.6 herein and (b)
both of the Seller's non-executive directors Dato' Zainal Abidin bin Xx Xxxxx
and Xx Xxxx Ing Xxxx who are both exempted from the covenants and/or
undertakings of this Clause 7) will:
7.2.1 after the Completion Date either on its own account or in conjunction with
or on behalf of any person, firm or company, carry on or be engaged,
concerned or interested (directly or indirectly and whether as principal,
shareholder, director, employee, agent, consultant, partner or otherwise)
in carrying on any Restricted Business;
7.2.2 after the Completion Date either on its own account or in conjunction with
or on behalf of any person, firm or company, solicit or endeavour to
entice away from the Buyer any of the Employees who had accepted the
Letters of Offer whether or not such person would commit a breach of
contract by reason of leaving service or office;
7.2.3 after the Completion Date either on its own account or in conjunction with
or on behalf of any person, firm or company, in connection with any
Restricted Business, deal with, solicit the customer of or endeavour to
entice away from the Buyer any person who at the date of this Agreement is
(or who within a period of one year prior to the date of this Agreement
has been) a customer of the Buyer whether or not such person would commit
a breach of contract by reason of transferring business;
7.2.4 after the Completion Date either on its own account or in conjunction with
or on behalf of any person, firm or company, in connection with any
Restricted Business endeavour to entice away from the Buyer any person who
at the date of this Agreement is (or who within a period of one year prior
to the date of this Agreement has been) a supplier of the Buyer whether or
not such person would commit a breach of contract by reason of
transferring business.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
18
7.3 Non-Competition - the Buyer
7.3.1 In the event that this Agreement is not completed for any reason
whatsoever the Buyer undertakes with the Seller and its successors in title that
within the period of one month from the date of termination of this Agreement it
will not and that it will procure that none of its Affiliates will:
(a) either on its own account or in conjunction with or on behalf of any
person, firm or company, carry on or be engaged, concerned or
interested (directly or indirectly and whether as principal,
shareholder, director, employee, agent, consultant, partner or
otherwise) in carrying on the Business in Selangor and Kuala Lumpur;
(b) either on its own account or in conjunction with or on behalf of any
person, firm or company, in connection with any Business in Selangor
and Kuala Lumpur, deal with or solicit the Customer.
7.3.2 In the event that this Agreement is not completed for any reason
whatsoever the Buyer undertakes with the Seller and its successors in title that
within the period of one (1) year from the date of termination of this Agreement
that it will procure that none of its Affiliates will either on its own account
or in conjunction with or on behalf of any person, firm or company, solicit or
endeavour to entice away from the Seller any of the Employees unless such
Employee has left the employment of the Seller six (6) months before the Buyer
employs such Employee.
7.4 Parties to Procure Compliance
The parties undertake with each other to take all such steps as shall from time
to time be necessary to ensure compliance with the terms of Clause 7.2 and
Clause 7.3 respectively.
7.5. Separate Covenants
Each of the undertakings in Clauses 7.2 and 7.3 shall be construed as a separate
and independent undertaking and if one or more of the undertakings is held to be
void or unenforceable, the validity of the remaining undertakings shall not be
affected.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
19
7.6 Reasonableness
The parties agree that the restrictions and undertakings contained in Clauses
7.2 and 7.3 are reasonable and necessary for the protection of their respective
legitimate interests in the goodwill of the Business but if any such
restriction or undertaking shall be found to be void or voidable but would be
valid and enforceable if some part or parts of the restriction or undertaking
were deleted, such restriction or undertaking shall apply with such
modification as may be necessary to make it valid and enforceable.
7.7 Void or Unenforceable Restrictions
Without prejudice to Clause 7.6, if any restriction or undertaking is found by
any court or other competent authority to be void or unenforceable the parties
shall negotiate in good faith to replace such void or unenforceable restriction
or undertaking with a valid provision which, as far as possible, has the same
legal and commercial effect as that which it replaces.
7.8 Confidential Information Concerning the Business
7.8.1 The Seller shall not and shall procure that no other member of the
Seller's Group shall make use of or divulge to any third party (other
than to the Seller's professional advisers for the purpose of this
Agreement in which case the Seller shall use all reasonable endeavours
to procure that such advisers keep such information confidential on
terms equivalent to this Clause) any confidential information relating
to the Business save only:
(a) insofar as the same has become public knowledge otherwise than,
directly or indirectly, through the Seller's breach of this
Clause 7.8.1 or the failure of the officers, employees or
professional advisers referred to above to keep the same
confidential; or
(b) the extent required by law or by any supervisory or regulatory
body including but not limited to the Singapore Exchange.
7.8.2 The Buyer shall not and shall procure that no other member of the
Buyer's Group nor any member of the Buyer's Group shall make use of or
divulge to any third party (other than to the Buyer's professional
advisers for the purpose of this Agreement in which
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
20
case the Buyer shall use all reasonable endeavours to procure that such
advisors keep such information confidential on terms equivalent to this
Clause) any confidential information relating to the Seller's business
prior to such Acquisition save only:-
(a) insofar as the same has become public knowledge otherwise than,
directly or indirectly, through the Buyer's breach of this
Clause 7.8.2 or the failure of the officers, employees or
professional advisers referred to above to keep the same
confidential; or
(b) the extent required by law or by any supervisory or regulatory
body including but not limited to the Singapore Exchange.
8. WARRANTIES AND REPRESENTATION
8.1 General
The Seller hereby warrants and represents to the Buyer in the terms of the
Warranties and acknowledges and accepts that the Buyer is entering into this
Agreement in reliance upon each of the Warranties.
8.2 Disclosure by the Seller
The Seller shall forthwith disclose (to the extent it is not limited by
confidentiality restrictions) in writing to the Buyer:-
8.2.1 all the information, agreements and documents relating to and incidental
to the Consignment Assets, the Accounts, the Business and the Seller's
employees in the Business to which the Seller is a party including,
without limit, the Contract and other documents relating to the Business
owned by or which is in the possession or control of the Seller;
8.2.2 any matter or thing which may arise or become known to the Seller after
the date hereof and before Completion Date which is inconsistent with
any of the Warranties or which might make any of them inaccurate or
misleading if they were given at any and at all times from the date
hereof to the Completion Date or which is material to be known to a
Buyer for value of the Business.
The Seller's obligation shall be limited and qualified by such disclosure.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
21
8.3 Warranties Independent
Each of the Warranties shall be separate and independent and shall continue to
be true and be applicable up to the Completion Date and save as expressly
provided, shall not be limited by reference to any other Warranty or anything in
this Agreement,
8.4 Rescission
In the event of any breach of the warranties becoming known to the Buyer before
Completion Date or in the event of it becoming apparent on or before the
Completion Date that the Seller is in material breach of any of the Warranties
or any other term of this Agreement the Buyer shall give written notice to the
Seller to rectify such breach within thirty (30) days thereof and in the event
the Seller fails or cannot rectify the same within such period, the Buyer may at
its option either:
8.4.1 rescind this Agreement by notice in writing to the Seller; or
8.4.2 proceed to complete this Agreement but without prejudice to its rights to
claim for breach of this Agreement or such Warranties.
9. PROVISIONS RELATING TO THIS AGREEMENT
9.1 Assignment
This Agreement shall be binding upon and enure for the benefit of the successors
of the parties but shall not be assignable.
9.2 Whole Agreement
9.2.1 This Agreement, together with any documents referred to in it, constitutes
the whole agreement between the parties relating to its subject matter and
supersedes and extinguishes any prior drafts, agreements, undertakings,
representations, warranties, assurances and arrangements of any nature,
whether in writing or oral, relating to such subject matter.
9.2.2 No variation of this Agreement shall be effective unless made in writing
and signed by each of the parties
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
22
9.3 Agreement Survives Completion
The Warranties and all other provisions of this Agreement, in so far as the same
shall not have been performed at the Completion Date shall remain in full force
and effect notwithstanding completion of this Agreement.
9.4 Rights etc cumulative and Other Matters
9.4.1 The rights, powers, privileges and remedies provided in this Agreement are
cumulative and are not exclusive of any rights, powers, privileges or
remedies provided by law or otherwise.
9.4.2 No failure to exercise nor any delay in exercising any right, power,
privilege or remedy under this Agreement shall in any way impair or affect
the exercise thereof or operate as a waiver thereof in whole or in part.
9.4.3 No single or partial exercise of any right, power, privilege or remedy
under this Agreement shall prevent any further or other exercise thereof
or the exercise of any other right, power, privilege or remedy.
9.5 Further Assurance
At any time after the date hereof the Seller shall, at the request and cost of
the Buyer, execute or procure the execution of such documents and do or procure
the doing of such acts and things as the Buyer may reasonably require for the
purpose of vesting the respective Movable Assets hereby agreed to be sold and
the other assets which the Buyer may have agreed to purchase in the Buyer or its
nominees and/or otherwise giving to the Buyer the full benefit of all the
provisions of this Agreement.
9.6 Invalidity
If any provision of this Agreement shall be held to be illegal, void, invalid or
unenforceable under the laws of any jurisdiction, the legality, validity and
enforceability of the remainder of this Agreement in that jurisdiction shall not
be affected, and the legality, validity and enforceability of the whole of this
Agreement in any other jurisdiction shall not be affected.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
23
9.7 Counterparts
This Agreement may be executed in any number of counterparts, which shall
together constitute one Agreement. Any party may enter into this Agreement by
signing any such counterpart.
9.8 Costs
Each party shall bear its own costs arising out of or in connection with the
preparation, negotiation and implementation of this Agreement.
9.9 Notices
All notices required by this Agreement shall be given in the English language
and in writing and delivered by hand or sent to the following addresses of the
parties by prepaid registered mail or by cable or e-mail or facsimile
authenticated by answer-back code confirmed by prepaid registered mail:-
The Seller
C/o Xxxx Sing Holdings Limited
0 Xxxxx Xxxx #00-00 Xxx Xxxxx Xxxxxxxxx 000000
Attn: Xx Xxxx Xxx
Fax no: (00)-0000 0000
The Buyer
C/o Trio Tech International Private Ltd.
0000 Xxx Xxxxx Xxxxx #00-00,
Xxxxxxxxx 000000
Attention: Xx Xxxxxx Xxxx (Chief Financial Officer),
Email: xxxxxxxxxx@xxxxxxxx.xxx.xx
Fax no: (00)-00000000
Any notice despatched in conformity with this paragraph shall be deemed to have
been effected at the time at which the same would be delivered in the ordinary
course of post or received by cable, e-mail or facsimile as the case may be.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
24
9.10 Waiver
No failure or delay on the part of any party in exercising any power or right
under this Agreement shall operate as a waiver thereof nor shall any single or
partial exercise of such right or power preclude any other or further exercise
of any other right or power hereunder.
9.11 Time
Time wherever mentioned shall be of the essence of this Agreement.
9.12 Spirit of the Agreement
9.12.1 The parties to this Agreement recognize that it is impractical to make
provision for every contingency that may arise in the course of the
observance or performance thereof. Accordingly, the parties declare it
to be a cardinal principle of this Agreement that they shall not use,
either while a party to this Agreement or thereafter, in a manner
prejudicial to the interest of either party, any information concerning
the business affairs or financial position of either party which
information comes to a party's knowledge from a director appointed
either party and acquired by him in the course of his duties as such
director or officer.
9.12.2 The parties declare it to be a cardinal principle of this Agreement
that is shall operate between them in fairness and without detriment to
the interests of any of them and if in the course of the performance of
this Agreement unfairness to a party is disclosed or anticipated then
the parties shall use their best endeavours to agree upon action as may
be necessary and equitable to remove the cause or causes of the same.
9.13 Applicable Laws & Jurisdiction
This Agreement shall be subject to the jurisdiction of the Malaysian courts and
be governed by and construed in accordance with the laws of Malaysia.
9.14 Severability
If any of the provisions of this Agreement becomes invalid illegal or
unenforceable in any respect under any law the validity legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
25
AS WITNESS the hands and seals of the duly authorised representatives of the
parties the day and year first above written.
The Seller
The common seal of ]
TS MATRIX BHD. (Company No.137599-H) ]
is hereby affixed in the presence of:- ]
/s/ Xx. Xxx Xxx Xx /s/ Law Xxxxx Xxx
------------------------------ --------------------------------
Director Director/Secretary*
Name: XX. XXX XXX XX Name: LAW XXXXX XXX
Passport / NRIC No. 680319-10-6045 Passport /NRIC No 690505-10-5694
The Buyer
Signed by XXXX XXXX XXX ] /s/ Xxxx Xxxx Wai
for and on behalf of TRIO TECH ] --------------------------------
(MALAYSIA) SDN.BHD. ] XXXX XXXX XXX
(Company No. 105390-V) ] (Singapore IC NO;X0000000X)
in the presence of:- ]
/s/ Xxxx Xxxx Ming
------------------------------
XXXX XXXX MING
(Singapore IC NO:X0000000X)
26
SCHEDULE 1
WARRANTIES AND REPRESENTATIONS
The Seller hereby warrants and represents to and for the benefit of the Buyer in
the following terms:
1. Capacity
The Seller has full power and authority to enter into and perform this Agreement
and the Acquisition on the terms of this Agreement and may execute and deliver
this Agreement and perform its obligations under this Agreement without in any
such case requiring or obtaining the consent of its shareholders any other
person, authority or body and this Agreement constitutes valid and binding
obligations on the Seller in accordance with its terms.
2. Litigation:
A] Neither the Seller nor any of its officers or agents nor any of the
employees of the Seller is engaged in or the subject of any litigation,
arbitration, administrative or criminal proceedings, whether as plaintiff,
defendant or otherwise, in relation to the Business;
B] To the best of the Seller's knowledge no litigation or arbitration,
administrative or criminal proceedings are pending, threatened or expected
by or against the Seller or any such officers, agents or employees, and so
far as the Seller is aware, there are no facts or circumstances likely to
give rise to any such litigation or arbitration or administrative or
criminal proceedings;
C] To the best of the Seller's knowledge, the Seller has not been a party to
any undertaking or assurance given to any court or governmental agency or
the subject of any injunction relating to the Movable Assets which is
still in force.
3. Winding Up
No order has been made, petition presented or resolution passed for the winding
up of the Seller and no meeting has been convened for the purpose of winding up
of the Seller.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
27
4. Administration and Receivership
No steps have been taken for the appointment of an administrator or receiver
(including an administrative receiver) in respect of any of the Seller and/or of
all or any part of the Business.
5. Compositions
The Seller has not made or proposed any arrangement or composition with its
creditors or any class of its creditors.
6. Unsatisfied Judgments
No distress, execution or other process has been levied against the Seller or
action taken to repossess any of the Movable Assets or Leased Assets which has
not been satisfied in full. No unsatisfied judgment is outstanding against the
Seller.
7. Floating Charges
To the best of the Seller's knowledge no floating charge created by the Seller
have crystallised and, so far as the Seller is aware, there are no circumstances
likely to cause such a floating charge to crystallise.
8. Consequence of Acquisition of the Business by the Buyer:
The acquisition of the Business (or any of them) by the Buyer or compliance with
the terms of this Agreement:
A] will not give rise to or cause to become exercisable any right of
pre-emption relating to the Business; and
B] to the best knowledge of the Seller, will not result in a breach of or
constitute a default under (1) the terms, conditions or provisions of any
agreement, understanding, arrangement or instrument or (2) any order,
judgment or decree of any court or governmental agency to which the Seller
is a party or by which, in either case, the Seller or the Business or any
of the Movable Assets and/or the other assets is bound or subject.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
28
9. Movable Assets:
A] Save as disclosed, the Seller is the owner both legally and beneficially
and have good and marketable title to (or is otherwise able to procure the
sale hereunder to the Buyer by the legal and beneficial owner who has good
and marketable title to) all the Movable Assets free from any encumbrance
or any third party claim and all such assets are within the control or
possession of the Seller;
B] Save as disclosed no encumbrance is outstanding nor is there any agreement
or commitment to give or create or allow any encumbrance over or in
respect of the whole or any part of the Movable Assets and no claim has
been made by any person that he is entitled to any such encumbrance;
10. Condition and use of Movable Assets:
Each of the Movable Assets:
A] is in good repair and condition (bearing in mind its age and level of use)
is in satisfactory working order and the working condition of the Movable
Assets being consistent with the specifications provided in the list of
Movable Assets under Schedule 4;
B] is not unsafe, dangerous or in such a physical condition as to contravene
any Health and Safety regulations and any other statutes or regulations or
orders having the force of law or the terms of any contract (express or
implied) to which the Seller (or other operator of the Business) is a
party with any of its employees or customers or any third party or
otherwise contravenes or infringes any law applicable to the Seller (or
such other operator) or obligation to which it is subject or would
otherwise be in breach of a duty of care which it owes;
C] is capable of being properly used over its estimated useful life for the
requirements of the Business and for the same purposes and to no lesser
extent than heretofore.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
29
11. The Employees:
A] The Seller will provide the Buyer with a list of all the Employees.
B] The Employees are all employed by the Seller in the Business at the date
of this Agreement.
C] The particulars provided by the Seller to the Buyer show true and complete
details of ages and lengths of continuous service of all of the Employees
and by reference to each of the Employees' remuneration payable and other
benefits provided or which the Seller is bound to provide (whether now or
in the future) to each category of the Employees at the date of this
Agreement or any person connected with any such person and (without
limiting the generality of the foregoing) include particulars of all
profit sharing, incentive, bonus, commission arrangements and any other
benefit to which any such category of the Employees is entitled or which
is regularly provided or made available to them (including details of
their notice period and their entitlement to holiday) in any case whether
legally binding on the Seller or not.
D] There are no subsisting contracts for the provision by any person of any
consultancy services to the Business.
E] As at this date of this Agreement and to the best of the Seller's
knowledge none of the Key Employees has given notice terminating his
contract of employment with the Seller.
F] To the best of the Seller's knowledge none of the Employees are under
notice of dismissal or has any outstanding dispute with the Seller in
connection with or arising from his employment.
G] Unless otherwise disclosed, none of the Employees belongs or has belonged
at any material time to an independent trade union recognised by the
Seller or any member of the Seller's Group in relation to the Business.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
30
H] Save as disclosed, there are no employee representatives representing all
or any of the Employees which the Seller has recognised and accepted:
I] With effect from the date of this Agreement until the Completion Date the
Seller will keep the Buyer informed of any change in (i) the rate of
remuneration, or the emoluments or pension benefits or other contractual
benefits, of the Employees or (ii) the terms of engagement of the
Employees.
J] There is no outstanding claim by any person who is now or has been a Key
Employee in relation to the Business or any dispute outstanding with any
of the said persons or with any unions or any other body representing all
or any of them in relation to their employment in the Business or of any
circumstances likely to give rise to any such dispute.
12. The Accounts, Contract and other agreements
A] Full and complete copies and all material terms of the Accounts and
Contract entered into prior to the date hereof (including any variations
amendments thereto) will be disclosed to the Buyer in writing.
13. Other agreements
A] Save as disclosed there are not now nor will there be at the Completion
Date any agreements, undertakings, understandings, arrangements or other
engagements, whether written or oral, in relation to the Business, to
which the Seller or any member of the Seller's Group is a party or has the
benefit of or is otherwise subject, the burden of which has passed or will
pass or will be alleged to pass to the Buyer.
B] There are no agreements or arrangements to which the Seller or any member
of the Seller's Group is a party which in any way restricts the freedom of
the Seller to carry on the Business in whole or in part or to use or
exploit the Business in any part of the world as it thinks fit;
C] No contract, agreement, transaction, obligation, commitment,
understanding,
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
31
arrangement or liability entered into by the Seller in connection with the
Business and now outstanding or unperformed (and, without limiting the
generality of the foregoing, the Contract) involves any of the following:
(a) obligations on the part of the Seller which will cause or are likely
to cause the Seller to incur expenditure or an obligation to pay any
money;
(b) obligations on the part of the Seller to purchase any specified
minimum quantity or any specified minimum percentage of its total
requirement for the Business or other stock in trade from any one
supplier;
14. Default
A] To the best of the Seller's knowledge neither the Seller nor any
other party to any agreement (including the facility agreements
relating to the financing of the Leased Assets) with the Seller
relating to the Business is in default thereunder, and the Seller is
not aware of any invalidity or grounds for termination, avoidance,
rescission or repudiation of any agreement to which it is a party to
which in any such case would be material in the context of the
financial or trading position of the Business or in the context of
the Movable Assets, Contract or Leased Assets nor (so far as the
Seller is aware) are there any circumstances likely to give rise to
any such event.
/s/ Xx. Xxx Xxx Xx /s/ Xxxx Xxxx Wai
32
SCHEDULE 2
LEASED ASSETS
33
SCHEDULE 2 - LIST OF LEASED ASSETS
---------------------------------------------------------------------------------------------------------------------
AMOUNT BALANCE MTHLY
------ ------- ------
DESCRIPTION HP AGT NO. ASSET NO. COST FINANCE O/STDG INST
---------------------------------------------------------------------------------------------------------------------
1 UNIT SORTING OPTION KL1/HI/03/4661 PM03001PJB 59,755.00 41,828.50 26,194.00 1,871.00
---------------------------------------------------------------------------------------------------------------------
1 UNIT USED ICOS TRAY H005/70063/3 PM03002PJB 280,060.00 279,779.00 241,444.00 8,623.00
---------------------------------------------------------------------------------------------------------------------
2 UNITS USED LOADER/ UNLOADER KL1/HI/02/3223 PM02001PJB 304,560.00 243,648.00 129,557.00 7,621.00
---------------------------------------------------------------------------------------------------------------------
12 UNITS OVEN KL1/HI/03/4164 PM02010P 528,000.00 527,472.00 357,654.00 16,257.00
---------------------------------------------------------------------------------------------------------------------
12 UNITS POWER TEN KL1/HI/03/4165 JB010-JB021 72,600.00 72,500.00 49,170.00 2,235.00
---------------------------------------------------------------------------------------------------------------------
1 UNIT WECOND LDR/UNLOADER KL1/HI/03/4344 PM03001PJB 488,300.00 487,811.70 360,840.00 15,035.00
---------------------------------------------------------------------------------------------------------------------
1 UNIT WECOND LDR (2ND UNIT) H005/700118/1 PM03003PJB 488,300.00 487,811.00 418,272.00 14,974.00
64 UNITS NEW CC3 F/T CARDS To be commenced 54,333.50 53,298.00 58,894.29 1,636.00
---------------------------------------------------------------------------------------------------------------------
Bl TOTAL 2,275,908.50 2,194,148.20 1,643,025.29 68,252.00
---------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------
NO. OF INST INT DUE CURRENT BAL INT
----------- --- --- ------- -------
DESCRIPTION O/STDG RATE DATE BANK MTH INT O/STDG
-----------------------------------------------------------------------------------------------
1 UNIT SORTING OPTION 14 3.65% 12/02/05 RHBL 173.92 1,383.24
-----------------------------------------------------------------------------------------------
1 UNIT USED ICOS TRAY 28 3.65% 04/04/05 RHBD 1,399.84 21,490.13
-----------------------------------------------------------------------------------------------
2 UNITS USED LOADER/ UNLOADER 17 4.20% 19/05/05 RHBL B90.65 8,140.87
-----------------------------------------------------------------------------------------------
12 UNITS OVEN 22 3.65% 21/10/05 RHBL 2,164.04 26,333.93
-----------------------------------------------------------------------------------------------
12 UNITS POWER TEN 22 3.65% 21/10/05 RHBL 298.13 3,628.03
-----------------------------------------------------------------------------------------------
1 UNIT WECOND LDR/UNLOADER 24 3.65% 07/12/05 RHBL 2,149.93 28,437.71
-----------------------------------------------------------------------------------------------
1 UNIT WECOND LDR (2ND UNIT) 28 3.50% 25/04/06 RHBD 2,342.64 35,922.27
64 UNITS NEW CC3 F/T CARDS 36 3.50% - RHBD 293.22 5,596.29
-----------------------------------------------------------------------------------------------
Bl TOTAL 9,712.37 130,932.48
-----------------------------------------------------------------------------------------------
/s/ Xxxx Xxxx Xxx
SCHEDULE 3
MOVABLE ASSETS
34
SCHEDULE 3 - LIST OF MOVABLE ASSETS
------------------------------------------------------------------------------------------------------------------------------------
ACQUISITION
ASSET CODE DESCRIPTION DATE Specifications porcuant to Clauses 4.1 and 5.1.1
------------------------------------------------------------------------------------------ ----------------------------------------
PE03028PJB BOSCH BATTERY DRILL 9.6V 17-Oct-03 Good working condition (with fair wear & tear excepted)
LH03005PJB UPGRADE BURN IN DUST CHAMBER B-Sep-03 Good working condition (with fair wear & tear excepted)
OE03001PJB ASUS INTELMPENTUIM PC 41.8GHZ C/W 17"
EUM5UNG MONITOR 25-Aug-03 Good working condition (with fair wear & tear excepted)
PE03025PJB Gl OUCTING FOR IBE CHAMBER 23-Aug-03 Good working condition (with fair wear & tear excepted)
LH03004PJB ROOM PARTITION IN BURN IN OFFICE 13-May-03 Good working condition (with fair wear & tear excepted)
PE03019PJB SET UP NEW SAP & WEB FOR
SGCJB 32 PRODUCTS 30-Apr-03 Good working condition (with fair wear & tear excepted)
PE03020PJB SET UP NEW SAP & WEB FOR
SGCJB 32 PRODUCTS 30-Apr-03 Good working condition (with fair wear & tear excepted)
LH03003PJB ELECTRICAL INSTALLATION FOR OVEN
(100A POWER CABLE) 16-Apr-03 Good working condition (with fair wear & tear excepted)
LH03002PJB PROPOSED ALTERATION AND
ADDITION TO 81 STORE 8-Mar-03 Good working condition (with fair wear & tear excepted)
PE03002PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03003PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03004PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03005PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03006PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03007PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03008PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03009PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03010PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03011PJB STAINLESS STEEL TROLLEY 20-Feb-03 Good working condition (with fair wear & tear excepted)
PE03014PJB INTEL PENTIUM 4 2.0GHZ PC
15" SAMSUNG MONITOR 17-Feb-03 Good working condition (with fair wear & tear excepted)
PE03015PJB INTEL PENTIUM 4 2.0GHZ PC
15" SAMSUNG MONITOR 17-Feb-03 Good working condition (with fair wear & tear excepted)
PE03016PJB HP 1200 LASERJET PRINTER 17-Feb-03 Good working condition (with fair wear & tear excepted)
PE03017PJB HP LASERJET 4100 PRINTER 17-Feb-03 Good working condition (with fair wear & tear excepted)
PE03012PJB MODIFY WEB LOADER S/STEEL TRAY 1-Jan-03 Porform up to 90% of the manufacturer's) raled porforman
PE03013PJB MODIFY WEB LOADER S/STEEL TRAY 1-Jan-03 Porform up to 90% of the manufacturer's) raled porforman
PE02023PJB FABRICATION AND SET UP
SAP MACHINE 27-Nov-02 Good working condition (with fair wear & tear excepted)
PE02024PJB FABRICATION AND SET UP
SAP MACHINE 27-Nov-02 Good working condition (with fair wear & tear excepted)
PE02025PJB FABRICATION AND SET UP
SAP MACHINE 27-Nov-02 Good working condition (with fair wear & tear excepted)
PE02026PJB FABRICATION AND SET UP
SAP MACHINE 27-Nov-02 Good working condition (with fair wear & tear excepted)
PE02028PJB SAP-12 SETUP TO SUPPORT
OFP_84 LOTS 9-Nov-02 Good working condition (with fair wear & tear excepted)
PE02011PJB BETAL CAL TOOL THERMOCOUPLE
CALIBRATOR S/N 10618019 29-Oct-02 Good working condition (with fair wear & tear excepted)
PE02020PJB SEMI AUTO PRESSER BURNING BOARD
FOR 80QFP C/W 2 TOP PROCESSOR 22-Oct-02 Good working condition (with fair wear & tear excepted)
PE02021PJB SEMI AUTO PRESSER BURNING BOARD
FOR 80QFP C/W 2 TOP PROCESSOR 22-Oct-02 Good working condition (with fair wear & tear excepted)
PM02002PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02003PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02004PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02005PJB SYSTEM RACK FOR OVEN TO SET UP
1BE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02006PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02007PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02008PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PM02009PJB SYSTEM RACK FOR OVEN TO SET UP
IBE CHAMBER 7-Oct-02 Good working condition (with fair wear & tear excepted)
PE02004PJB 17"SUMSUNG DIGITAL COLOUR MONITOR
S/N AN17LSTL/MYF 24-Sep-02 Good working condition (with fair wear & tear excepted)
PE02005PJB 17"SUMSUNG DIGITAL COLOUR MONITOR
S/N AN17LSTL/MYF 24-Sep-02 Good working condition (with fair wear & tear excepted)
PED2006PJB 17"SUMSUNS DIGITAL COLOUR MONITOR
S/N AN17LSTL/MYF 24-Sep-02 Good working condition (with fair wear & tear excepted)
PE02007PJB 17"SUMSUNG DIGITAL COLOUR MONITOR
S/N AN17LSTL/MYF 24-SEP-02 Good working condition (with fair wear & tear excepted)
PE02008PJB TOP PRESSOR FOR HC11-HC058
DOE MC8 IBE PRODUCT 24-Sep-02 Good working condition (with fair wear & tear excepted)
PE02012PJB APS SMART-UPS 700VA C/W
SMART MEASURE S/N QS 232223926 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02013PJB APS SMART-UPS 700VA C/W
SMART MEASURE S/N QS 232223926 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02014PJB APS SMART-UPS 700VA C/W
SMART MEASURE S/N QS 232223926 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02015PJB APS SMART-UPS 700VA C/W
SMART MEASURE S/N QS 232223926 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02016PJB APC SMARTSLOT MEASURE UPSII
TEMPERATURE & HUMIDITY 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02017PJB APC SMARTSLOT MEASURE UPSII
TEMPERATURE & HUMIDITY 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02018PJB APC SMARTSLOT MEASURE UPSII
TEMPERATURE & HUMIDITY 18-Sep-02 Good working condition (with fair wear & tear excepted)
PE02001PJB INTERNEC SP-1800ST LASER BARCODE SCANNER 10-Sep-02 Good working condition (with fair wear & tear excepted)
PE02002PJB INTERNEC SP-1800ST LASER BARCODE SCANNER 10-Sep-02 Good working condition (with fair wear & tear excepted)
PE02003PJB INTERNEC SP-1800ST LASER BARCODE SCANNER 10-Sep-02 Good working condition (with fair wear & tear excepted)
PE02009PJB SEMI AUTO PRESSOR-12 SET UP TO
SUPPORT QFP-84LDS 2-Sep-02 Good working condition (with fair wear & tear excepted)
PE02010PJB SEMI AUTO PRESSER C/W SHAFT
OZAK AND BEARING 30-Aug-02 Good working condition (with fair wear & tear excepted)
PE02027PJB SEMI AUTO PRESSER C/W SHAFT OZAK
AND BAERING 25-Aug-02 Good working condition (with fair wear & tear excepted)
PE02019PJB APC SMARTSLOT MEASURE UPSII
TEMPERATURE & HUMIDITY 19-Aug-02 Good working condition (with fair wear & tear excepted)
LH02001PJB Gl DUCT WORK,FIBREGLASS & ALUM,
FOIL AND CONTROL DUMPER 1-Jul-02 Good working condition (with fair wear & tear excepted)
0071150 INTERNAL BIB CARD LAGE, BACK & FRONT
PLANE WITH 52 SLOTS 30-Sep-00 Good working condition (with fair wear & tear excepted)
0071133 XXXXXXX 1 PEN SERIES CHART RECORDED
MODEL MRC 7000 30-Aug-00 Good working condition (with fair wear & tear excepted)
0071105 TO FABRICATE, SUPPLY AND DELIVER
POWER RACKS MILD STEEL 30-Jul-00 Good working condition (with fair wear & tear excepted)
0071113 DRIVE BOARD TROLLEY 30-Jul-00 Good working condition (with fair wear & tear excepted)
0071114 GANG/SET PROGRAMMER PART # 704787 30-Jul-00 Good working condition (with fair wear & tear excepted)
0071122 A ATEK AT-404UV EPROM ERASER 30-Jul-00 Good working condition (with fair wear & tear excepted)
0071122 B ATEK AT-404 EPROM ERASER 30-Jul-00 Good working condition (with fair wear & tear excepted)
0071124 A HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 B HIGH TEUERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 C HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 D HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 E HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 F HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 G HIGH TEUERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071124 H HIGH TEMERATURE OVEN MODEL 6T2000 30-Jul-00 90% of the slot must be in good working condition
0071096 BALL SCREEN KITS (BALLS SCREW
NUT ASSEMBLY WITHOUT PRELAND 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071098 1 UNIT POND CHECKER 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102 A OVEN CARDCAGE & BAKELITE BOX 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102 B OVEN CARDCAGE & BAKELITE BOX
FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
/s/ Xxxx Xxxx Wai
ACQUISITION
ASSET CODE DESCRIPTION DATE Specifications pursuant to Clauses 4.1 and 6.1.1
---------- ----------- ---- ------------------------------------------------
0071102C OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102D OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102E OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102F OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102G OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071102H OVEN CARDCAGE & BAKELITE BOX FOR CARCADE 30-Jun-00 Good working condition (with fair wear & tear excepted)
0071081 HI LO ALL-11P UNIVERSAL PROGRA HI LO ADP-
68HC 711 84PIN PLCC 31-May-00 Good working condition (with fair wear & tear excepted)
0071053 1 UNIT WEB 4800B7LOADER & UNLOADER
SN48267-0196 31-Mar-00 Perform up to 90% of the manufacturer's raled performance.
0071038 A HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071038 B HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071038 C HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071038 D HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071038 E HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071038 F HIGH TEMPERATURE OVEN C/W CHART RECORDER 29-Feb-00 90% of the slot must be in good working condition
0071054 A USED EG & G BURN IN OVEN 29-Feb-00 90% of the slot must be in good working condition
0071054 B USED EG & G BURN IN OVEN 29-Feb-00 90% of the slot must be in good working condition
0071054 C USED EG & G BURN IN OVEN 29-Feb-00 90% of the slot must be in good working condition
0071054 D USED EG & G BURN IN OVEN 29-Feb-00 90% of the slot must be in good working condition
0071004 A DELTA EQUIVELENT OVEN AT5200 31-Jan-00 90% of the slot must be in good working condition
0071004 B DETAL EQUIVELENT OVEN AT 5200 31-Jan-00 90% of the slot must be in good working condition
0071004 C DELTA EQUIVELENT OVEN AT 5200 31-Jan-00 90% of the slot must be in good working condition
0071004 D DELTA EQUIVELENT OVEN AT5200 31-Jan-00 90% of the slot must be in good working condition
0071019 A AEHR ATS OVEN 31-Jan-00 90% of the slot must be in good working condition
0071019 B AEHR ATS OVEN 31-Jan-00 90% of the slot must be in good working condition
0000000 1 SET DSP S/STEEL DRIVER RACK SIZE
600MM*1300MM*1680MM 30-Nov-99 Good working condition (with fair wear & tear excepted)
9971072 GANG 1 SET PROGRAMMER ORDER CODE 704787 31-Aug-99 Good working condition (with fair wear & tear excepted)
9871105 BURN IN TROLLEY (SUS 304B S/STEEL 30-Oct-98 Good working condition (with fair wear & tear excepted)
9381285 RALCO WATER COOLER 31-Jul-98 Good working condition (with fair wear & tear excepted)
9881081 PORTABLE CABIN WITH WIRING LIGHTING &
POWER POINT 31-Jul-98 Good working condition (with fair wear & tear excepted)
9771150 PROPOSED PEAK & OFF KWH AND KVRH METER
FOR SITE 1&2 31-Dec-97 Good working condition (with fair wear & tear excepted)
9771TQFP4A MAX 8400 DYNAMIC BURN IN SYSTEM MAX 12 15-Dec-97 90% of the slot must be in good working condition
9771TQFP4B MAX 8400 DYNAMIC BURN IN SYSTEM MAX 13 15-Dec-97 90% of the slot must be in good working condition
BURN IN 2 DELIVERY & CUSTOM CLEARANCE FOR MAX OVEN 30-Sep-97 Good working condition (with fair wear & tear excepted)
9771099 TO SUPPLY & INSTALL 1 SET 25HP NEW ASCON
AIR COND COPPER 3l-Aug-97 Good working condition (with fair wear & tear excepted)
9771127 1 UNIT 40HP ACSON AIR COOLED PACKAGE C/W
COPPER PIPING 31-Jul-97 Good working condition (with fair wear & tear excepted)
9771089 A TRIGGERING OSCILLOSCOPE MODEL : GAS 652G 31-Jul-97 Good working condition (with fair wear & tear excepted)
9771089 B TRIGGERING OSCILLOSCOPE MODEL : GAS 652G 31-Jul-97 Good working condition (with fair wear & tear excepted)
9771089 G TRIGGERING OSCILLOSCOPE MODEL : GAS 652G 31-Jul-97 Good working condition (with fair wear & tear excepted)
9771TQFP3A MAX 6400 DYNAMIC BURN IN SYSTEM MAX 10 15-May-97 For storage - Not applicable
9771TQFP3B MAX 640D DYNAMIC BURN IN SYSTEM MAX 11 15-May-97 90% of the slot must be in goon working condition
3771037 A 3 RACLSX22 SHELF S/STEEL 304 TROLLEY 31-Mar-97 Good working condition (with fair wear & tear excepted)
9771037 B 3 RACLSX22 SHELF S/STEEL 304 TROLLEY 31-Mar-97 Good working condition (with fair wear & tear excepted)
9771TQFP MAX 6400 DYNAMIC BURN IN SYSTEM MXA 6 31-Mar-97 For storage - Not applicable
9771TQFP 1 MAX 6400 DYNAMIC BURN IN SYSTEM - MAX 9 31-Mar-97 For storage - Not applicable
9771TQFP2A MAX OVEN SYSTEM CONTROL 15-Mar-97 90% of the slot must be in good working condition
9771TQFP2B MAX OVEN SYSTEM CONTROL 15-Mar-97 90% of the slot must be in good working condition
9671190 20HP ASCON MODEL ADB 299B FAN COIL 30-Dec-96 Good working condition (with fair wear & tear excepted)
9671199 1 UNIT 10HP COMELAND COMPRESSOR 30-Dec-96 Good working condition (with fair wear & tear excepted)
9671190A DUCT HEADER & RETURN AIR DUCK WORK 30-Dec-96 Good working condition (with fair wear & tear excepted)
9671188 SV 24 SUPER EXHUAST FAN 30-Nov-96 Good working condition (with fair wear & tear excepted)
9671189 1 UNIT USED 10HP CARRIER SEMI SEAL
COMPRESSOR 30-Nov-96 Good working condition (with fair wear & tear excepted)
9671073 SEMI AUTO CHARGE KIT FOR MPF, MPC 7 MAP
BOARD TYPE 30-Sep-96 Good working condition (with fair wear & tear excepted)
9671084 MCU SEMI AUTO SOCKET PRESSER TOOL 30-Aug-96 Good working condition (with fair wear & tear excepted)
9671026 USED 10HP SEMI SEAL COMPRESSOR 30-Apr-96 Good working condition (with fair wear & tear excepted)
9671TQFP WEB MODEL 4800 BASE SYSTEM LOADER &
UNLOADER -WEB 4 30-Apr-96 Peform up to 90% of the manufacturer's raled performance.
98717TQFPA MAX 6400 DYNAMIC BURN IN SYETEM -MAX 5 15-Apr-96 For storage - Not applicable
96717TQFP9 MAX 6400 DYNAMIC BURN IN SYETEM -MAX 6 15-Apr-96 For storage - Not applicable
96717TQFPc MAX 6400 DYNAMIC BURN IN SYETEM -MAX 7 15-Apr-96 For storage - Not applicable
9671D12 TROLLEY 29-Feb-96 Good working condition (with fair wear & tear excepted)
9671D09A 10HP SEMI SEAL COMPRESOR 15-Jan-96 Good working condition (with fair wear & tear excepted)
9871009B 10HP SEMI SEAL COMPRESOR 15-Jan-96 Good working condition (with fair wear & tear excepted)
9571248 USED 10HP COMPRESSOR 30-Dec-95 Good working condition (with fair wear & tear excepted)
9571242 USED 10HP COMPRESSOR 30-Nov-95 Good working condition (with fair wear & tear excepted)
9571232 TROLLEY 30-Oct-95 Good working condition (with fair wear & tear excepted)
9571234-36 VM RAIL 30-Oct-95 Good working condition (with fair wear & tear excepted)
9571203 VM RAIL B PCS 30-Sep-95 Good working condition (with fair wear & tear excepted)
9571212 USED 10HP SEMI SEAL COMPRESSOR 30-Sep-95 Good working condition (with fair wear & tear excepted)
9571194 1 UNIT NEW ASCON 40HP FAN OIL MODEL
ADB 400 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571195 1 LOT A/COND DUCTING C/W AIR DIFFUSER 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571196 1 UNIT 80 TONS FRP COOLING TOWER C/W
MODIFICATION 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571197 2 LOT GI WATER PIPING C/W IRON BRACKET 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571199 1 SET AIR COND CONTROL PANEL SWITCH BOARD 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571200 4 LOT COMPRESSOR CONTROL WIRING IN CONDUIT 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571189A TEKTRONIX ANOLOG OSCILLOSCOPE MODEL
TEAS 465 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571189B TEKTRONIX ANDLOG OSCILLOSCOPE MODEL
TEAS 465 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571198A 10HP WATER COOLED CONDENSER 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571198B 10HP WATER COOLED CONDENSER 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571198C 10HP WATER COOLED CONDENSER 30-Aug-95 Good working condition (with fair wear & tear excepted)
9571164 400ADB C/W 400A & 6 NOS 100A MCCB & 400A
SUB BOARD 30-Jul-95 Good working condition (with fair wear & tear excepted)
9571173 150KVA TRANSFORMER 30-Jul-95 Good working condition (with fair wear & tear excepted)
9571160 EARTH FAULTH RELAY 30-Jul-95 Good working condition (with fair wear & tear excepted)
9571156 150KVA TRANSFORMER, 400A DB C/W 400A
MCCB & 6 NOS 100a MCCB 30-Jun-95 Good working condition (with fair wear & tear excepted)
9571160 VISALA HUMIDITY & TEMP. INDICATOR 30-Jun-95 Good working condition (with fair wear & tear excepted)
/s/ Xxxx Xxxx Xxx
ACQUISITION
ASSET CODE DESCRIPTION DATE Specifications pursuant to Clauses 4.1 and 6.1.1
---------- ----------- ---- ------------------------------------------------
9571163 USED 10HP CARRIER COMPRESSOR 30-Jun-95 Good working condition (with fair wear & tear excepted)
9571174 400A MCCB TO EXTEND AT SIDE 2 MCB C/W 400A
CABLE 30-Jun-95 Good working condition (with fair wear & tear excepted)
9571164 A 4 NOS 100M CABLE FR DB TO OVEN & 4 NO.
100A ISOLATOR 30-Jun-95 Good working condition (with fair wear & tear excepted)
9571144 CHARGE KIT TROLLYE 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571138 A 300MIL/400MIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571036 B 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571036 C 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571036 D 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571136 E 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571136 F 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571136 G 300MIL/4OOMIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571136 H 300MIL/400MIL ALC VM RAIL 30-Apr-95 Good working condition (with fair wear & tear excepted)
9571120 TROLLEYS 30-Mar-95 Good working condition (with fair wear & tear excepted)
9471221 VENTICAL AIR RECEIVER AT 150PSI 31-Dec-94 Good working condition (with fair wear & tear excepted)
9471227 UPGRADING AIR CON SYSTEM FOR NEW SITE
EXTENTION 31-Dec-94 Good working condition (with fair wear & tear excepted)
9471234 USED 10HP WATER PUMP C/W MODIFICATION 31-Dec-94 Good working condition (with fair wear & tear excepted)
9471192 1 UNIT USED CARRIER 10HP SEMI SEAL
COMPRESSOR 30-Nov-94 Good working condition (with fair wear & tear excepted)
9471184 REPLACE 1 UNIT USED CARRIER 10 HP SEMI SEAL
COMPRESSOR 15-Oct-94 Good working condition (with fair wear & tear excepted)
9471137 MOBILE STEP LADAER DEMENSION 20"X60"X38" 30-Sep-94 Good working condition (with fair wear & tear excepted)
9471098 USED CARRIER 10HP SEMI SEAL COMPRESSOR 15-Aug-94 Good working condition (with fair wear & tear excepted)
9471099 USED CARRIER 10HP SEMI SEAL COMPRESSOR 15-Aug-94 Good working condition (with fair wear & tear excepted)
9669124 1 UNIT AIR HANDLING UNITCOOLING TOWER &
WATER PUMP 31-May-94 Good working condition (with fair wear & tear excepted)
9471028 TO FABRICATE TROLLEY WITH 2 COMPARTMENT
AND 52 SHELVE 31-Mar-94 Good working condition (with fair wear & tear excepted)
9371254 1 UNIT USED CARRIER 10HP SEMI SEAL
COMPRESSOR 31-Dec-93 Good working condition (with fair wear & tear excepted)
9371255 1 UNIT USED CARRIER 10HP SEMI SEAL
COMPRESSOR 31-Dec-93 Good working condition (with fair wear & tear excepted)
9371293 10HP RECOND CARRIER COMPRESSOR 31-Dec-93 Good working condition (with fair wear & tear excepted)
9371147 7.5HP RECOND CARRIER AIR COOLE FLOOR
STANDING UNIT 31-Aug-93 Good working condition (with fair wear & tear excepted)
8371120 1 UNIT 5HP RECOND SPLIT AIR COMPRESSOR
AT TRAINING ROOM 31-Jul-93 Good working condition (with fair wear & tear excepted)
9371078 15HP USED CARRIER SEMI SEAL COMPRESSOR 31-May-93 Good working condition (with fair wear & tear excepted)
9271177 MOTORIZED SHOE CLEANER WITH INTERNAL
VACUMM MODEL 1400-VA 15-Nov-92 Good working condition (with fair wear & tear excepted)
9271178 MOTORIZED SHOE CLEANER WITH INTERNAL
VACUMM MODEL 1400-VA 15-Nov-92 Good working condition (with fair wear & tear excepted)
9271147 150KVA 415208V TRANSFORMER AND SUB
SW. BOARD 30-Sep-92 Good working condition (with fair wear & tear excepted)
9271151 10 HP USED COMPRESSOR 30-Sep-92 Good working condition (with fair wear & tear excepted)
9271129 10HP AIRCOOLED CONDENSER 26-Aug-92 Good working condition (with fair wear & tear excepted)
9271130 1 UNIT 10HP TECUMSEH SEALHERMATIC
COMPRESSOR 26-Aug-92 Good working condition (with fair wear & tear excepted)
9271126 A 16"X36"X30" ATC TROLLEY C/W PAINT 26-Aug-92 Good working condition (with fair wear & tear excepted)
9271126 B 16"X36"X30" ATC TROLLEY C/W PAINT 26-Aug-92 Good working condition (with fair wear & tear excepted)
9271110 HIGH PRESSURE CLEANER 27-Jul-92 Good working condition (with fair wear & tear excepted)
9271109 EXHUAST DUCTING 30-Jun-92 Good working condition (with fair wear & tear excepted)
9271054 150KVA 415/208V TRANSFORMER AND SUB SW.
BOARD 31-May-92 Good working condition (with fair wear & tear excepted)
435501261 AIR COND NO 7-1 SET 30HP EXISTING YORK
WATER COOL PKG 1-Oct-91 Good working condition (with fair wear & tear excepted)
439151006 VM INSPECTION TOOL 2 UNITS 1-Jul-91 Good working condition (with fair wear & tear excepted)
435501246 1 NO. 10HP HITACHI WATER COOL PKG
NO. 3810009 1-Jun-91 Good working condition (with fair wear & tear excepted)
435501226 I UNIT OF 10 HP PKG AIR-COND 15-Feb-90 Good working condition (with fair wear & tear excepted)
435501222 100KVA 3PHASE SINGLE WOUND X'FORMER C/W
METAL CASING 1-Feb-90 Good working condition (with fair wear & tear excepted)
435501218 100KVA THREE PHASE SINGLE WOUND X'FORMER 10-Jan-90 Good working condition (with fair wear & tear excepted)
435501203 ELECTRICAL INSTALLATION FOR XXX
XXXXXXXXX XXXX, 00-Xxx-00 Good working condition (with fair wear & tear excepted)
435501179 1 SET YORK 40HP WATER COOLED PACKAGE UNIT
MODEL EW410 29-Apr-89 Good working condition (with fair wear & tear excepted)
435501173 1 XXXX 000XXX 0 XXXXX XXXXXXXXX X'XXXXXX
XX 0000-00 9-Mar-89 Good working condition (with fair wear & tear excepted)
435501163 1 UNIT 150KVA TRANSFORMER 31-Jan-89 Good working condition (with fair wear & tear excepted)
435501158 1 UNIT 10HP AIR-COOLED SPLIT AIR DUCTING
AND COPPER PIPING 19-Jan-89 Good working condition (with fair wear & tear excepted)
435501150 1 XXXX 000XXX 0 XXXXX X'XXXXXX XX 00000 27-Dec-88 Good working condition (with fair wear & tear excepted)
435501133 1 UNIT 100KVA 3 PHASE X'FORMER OAN 76001126 13-Aug-88 Good working condition (with fair wear & tear excepted)
435501099 1 UNIT 100KVA XXXXXXXX X'XXXXXX XX 000 00-Xxx-00 Good working condition (with fair wear & tear excepted)
435501036 1 XXXX 000XXX 0 XXXXX X'XXXXXX XX 0000 10-Apr-87 Good working condition (with fair wear & tear excepted)
435501037 1 XXXX 000XXX 0 XXXXX X'XXXXXX XX 0000 10-Apr-87 Good working condition (with fair wear & tear excepted)
435501022 1 XXXX 000XXX 0 XXXXX X'XXXXXX XX 0000 1-Feb-87 Good working condition (with fair wear & tear excepted)
435501002 1 XXXX 0 XXXXX 000XXX X'FORMER SN 105 31-Dec-86 Good working condition (with fair wear & tear excepted)
435501017 1 XXXX 0 XXXXX 000XXX X'FORMER SN 106 31-Dec-86 Good working condition (with fair wear & tear excepted)
435501018 1 XXXX 0 XXXXX 000XXX X'FORMER SN 108 31-Dec-86 Good working condition (with fair wear & tear excepted)
435501013 1 XXXX 0 XXXXX 000XXX X'FORMER SN 103 15-Nov-86 Good working condition (with fair wear & tear excepted)
435501014 1 XXXX 0 XXXXX 000XXX X'FORMER SN 7901 15-Nov-86 Good working condition (with fair wear & tear excepted)
Additional -Dec 03
PE03032PJB SAMSUNG 17" COLOR MONITOR 16/Dec/03 Good working condition (with fair wear & tear excepted)
PE03033PJB SAMSUNG 17" COLOR MONITOR 10/Dec/03 Good working condition (with fair wear & tear excepted)
PE03034PJB SAMSUNG 17" COLOR MONITOR 18/Dec/03 Good working condition (with fair wear & tear excepted)
PE03035PJB SAMSUNG 17" COLOR MONITOR 16/Dec/03 Good working condition (with fair wear & tear excepted)
PE03036PJB SAMSUNG 17" COLOR MONITOR 18/Dec/03 Good working condition (with fair wear & tear excepted)
PE03037PJB SAMSUNG 17" COLOR MONITOR 16/Dec/03 Good working condition (with fair wear & tear excepted)
PE03027PJB XXXXX HAND HELD SCANNER S/N : W-21-12467 16/Dec/03 Good working condition (with fair wear & tear excepted)
PE03029PJB XXXXX HAND HELD SCANNER S/N : W-21-08448 16/Dec/03 Good working condition (with fair wear & tear excepted)
/s/ Xxxx Xxxx Xxx
