-2 Storey Terrace House No. 18, Lorong Jawa 2, Taman Jawa, 12000 Butterworth, Penang Price RM688,500.00 Past Auc RM850K

Good Afternoon Mr Tan, I have an important update regarding your interest in bidding for the Maju Junction Building (38 strata units). Our corporate lawyers conducted an official background check with the Companies Commission of Malaysia (SSM). While the Proclamation of Sale (POS) is silent on the matter, SSM records confirm that the current registered owner is a Bumiputera entity. The good news is: YOU CAN STILL PROCEED TO PURCHASE THIS BUILDING, but it must strictly be done under the following mandatory conditions to secure your interest and protect your deposit: 1. Incorporate a Malaysian Sdn Bhd Company (Bumiputera Majority): You cannot bid under your individual foreign name, as the Land Office will highly likely reject the transfer. Instead, you must set up a local Malaysian Sdn Bhd company, where the majority of the shares (at least 51%) are held by local Bumiputera corporate partners/investors. This allows the company to qualify for the property transfer under Malaysian land regulations. 2. Appoint a Skilled Malaysian Conveyancing Lawyer: Due to the complexity of this RM4.2 million commercial transaction, it is critical that you appoint a highly skilled and specialized Malaysian property lawyer immediately. They will oversee the structural setup of the company, draft a tight Joint Venture Agreement to protect your investment, and handle the State Authority Consent process seamlessly. Why this is crucial: Bidding as an individual foreigner without this corporate structure poses a near-certain risk of rejection by the Land Office. Under the auction terms, if the transfer fails, your 10% deposit will be fully forfeited (hangus). If you are open to this approach, I can immediately introduce you to a reputable Malaysian corporate law firm to assist you with setting up the Sdn Bhd structure before the auction date. ( but this is up to You) Please let me know your thoughts so we can plan the next steps. Best regards, HAJI SAHRI ,Your Auction Adviser ________________________________________