The indicative consideration of RM9 million is approximately the total investment cost of Takaso since the acquisition of TSC on Nov 27, 2013, subject to the completion of the due diligence on TSC by Lay Hong.
"The (amount) comprises initial cost incurred for the acquisition of TSC and the property, further capital outlay for the upkeep and renovation of the property in order to obtained the approvals and also operating expenses for TSC," it added.
In the event that Takaso or Lay Hong fail to execute the legal documentation by Dec 31, 2015, either of the two companies may terminate these heads of terms by written notice to the other.