April 14, 2011

JSM completes sale of Cambodia portfolio


JSM Indochina has completed the disposal of its Cambodia assets with agreed sale of its Siem Reap leasehold interest to Hongkong Land (Singapore).

Siem Reap is currently held by JSM's subsidiary, JSM Holdings (Cambodia).

The deal follows the conditional sale of Colonial Mansion I&II land and buildings, the Embassy land, and the Ounalom land announced on 7 April.

These, together with Siem Reap, represent all of JSM's assets in Cambodia.

The gross consideration payable to JSM for the disposal of Siem Reap is $2,000,000 in cash.

This includes an amount in respect of certain indirect taxes which may be payable.

If applicable, the indirect taxes are expected not to exceed $200,000.

At 3:20pm: (LON:JSM) share price was +0p at 0.2p

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