Business
Purchase of an office in Kuala Lumpur, Malaysia
Purchase of an office in Kuala Lumpur, Malaysia.
About this update from Mobilityone Limited
[{"type":"text","content":"\n \nRNS Number : 6330O MobilityOne Limited 08 August 2014 \n \n\n \n8 August 2014\nMobilityOne Limited\n(\"MobilityOne\" or the \"Group\")\n \nPurchase of an office in Kuala Lumpur, Malaysia\n \nThe Board of MobilityOne (AIM: MBO) announces that MobilityOne Sdn Bhd (\"MobilityOne Malaysia\"), a wholly-owned subsidiary of the Group, has completed the purchase of a new office near the Kuala Lumpur Convention Centre (KLCC) for a consideration of approximately RM1.80 million (c.£333,550) which has been satisfied from the Group's existing cash resources. \n \nMobilityOne Malaysia is at an advanced stage of partially re-financing the property purchase by putting in place a loan facility with a local Malaysian bank amounting to approximately RM1.62 million (c.£300,000) and the Board of MobilityOne anticipates completing this re-financing by the end of September 2014. \n \nThe purchase of the 2,771 square feet (or 257.43 square metres) office with a freehold title gives MobilityOne Malaysia the assurance of owning its own office space and provides MobilityOne Malaysia with long-term cost savings as well as potential property value appreciation.\n \nMobilityOne Malaysia expects to be able to move into its new office in early 2015. Following this, MobilityOne Malaysia will cease to occupy one of its two existing rented office premises in Kuala Lumpur, Malaysia.\n \nFor further information, contact:\n \nMobilityOne +6 03 89963600\nDato' Hussian A. Rahman, CEO  ...