Untitled Document

General Announcement
Reference No BD-060227-57575

Amended Announcement
(Please refer to the ealier announcement reference number: BD-060223-62051)

Company Name	:	BINA DARULAMAN BERHAD
Stock Name	:	BDB
Date Announced	:	27/02/2006


Type	:	Announcement
Subject	:	APPLICATION AND ACCEPTANCE OF BANK BORROWING OF RM6.0 MILLION FROM BANK MUAMALAT MALAYSIA BERHAD TO PART FINANCE THE ACQUISITION COST OF 1,500,000 SHARES OF RM1.00 EACH OR 30% OF THE EQUITY OF SYARIKAT BINA DAN KUARI KEDAH SDN BHD (BINAKUARI) FROM SISMA HOLDINGS SDN BHD (SISMA)

Contents :

INTRODUCTION

Bina Darulaman Berhad ("BDB or the Company") is pleased to announce that it has on 21st November 2005 applied for a bank borrowing of RM6.0 million from Bank Muamalat Malaysia Berhad (BBMB) for a bank borrowing of RM6.0 million to part finance the acquisition of 30% equity interest in BINAKUARI.

BBMB has approved the facility and issued a Letter of Offer dated 23rd January 2006 to BDB subject to the terms and conditions as stipulated in the Letter.

SALIENT TERMS OF THE LETTER OF OFFER

Among the salient terms of the Letter of Offer are as follows:-

The facilities shall be available for utilization subject to the Bank Standard Condition for disbursement / utilization, including but not limited to the following:-

(a) Al-Bai Bithaman Purchase and Sale Agreement, security documentation deemed necessary by the solicitor shall have been duly executed by the authorized signatories and stamped.

(b) The pledge of RM3.0 million GIA under lien to the Bank and execution of Letter of Authorization.

(c) The customer is to maintain an Al-Wadiah current account with the Bank.

FINANCIAL EFFECT

The Borrowing does not have any effect on the earnings per share, net tangible assets per share or capital of the Company for the current financial year.

DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST

None of the Directors of BDB or any of the shareholders of BDB have any interest, direct or indirect in the aforesaid borrowing.

STATEMENT BY DIRECTORS

The Directors are of the opinion that the borrowing is essential to complete the acquisition within the stipulated time frame as stated in the Sales and Purchase Agreement dated 19th September 2005 between BDB and Sisma Holdings Sdn Bhd.