The property comprises land and buildings including an office as well as workshops. Certificate no. 5410 will expire on Oct 31, 2038, while certificate no. 5411 will expire on Sept 6, 2035.
Mencast Holdings’ (SGX:5NF
) wholly-owned subsidiary, PT Mencast Offshore and Marine (PT MOM), has entered into a conditional sale and purchase agreement (SPA) with PT Rainbow Tubulars Manufacture to dispose Mencast’s Batam property at Jl. Brigjen Katamso KM 18, Tanjung Uncang, Batu Aji.
Along with the disposal of the property, Mencast is also disposing two “right to build” certificates. The first, certificate no. 5410, has a total land area of 45,781 sqm (492782.58 sq ft). The second certificate, certificate no. 5411 has a total land area of 5,012 sqm.
