(Author of the Letter) (NRIC:__________)
(Address of Author)
(Date)
(Receipient) (NRIC: _______)
(Address of Receipient)
(Method of Posting – A.R.Registered/Post/By Hand)
RE: PURCHASE OF 50% EQUITY IN PARTNERSHIP KNOWN AS _____________ OPERATING (Nature of Business) AT (Address)
I refer to the above-said matter.
I hereby confirmed from the registration of business (‘ROB’) that I am a partner in this partnership business known as (Name of Company) whose business address is located at (Address). I wish to confirm that I owned 50% equity in the said partnership business.
In consideration of the sale of the 50% equity of the partnership to you, I hereby acknowledged receipt of payment amounting to Ringgit Malaysia [Insert Amount]. I hereby confirmed as per my letter of undertaking to your goodselves dated (date) that I have sold the said partnership business to your goodselves and that I shall confirm and/or to agree to the following terms and conditions:
(a) In addition and without prejudice to the rights and remedies already conferred to you via my letter of undertaking to you dated above, I shall indemnify you against any loss and necessary expenses which you may sustain or incur as a consequence of any default and/or breach by me based on the terms and conditions stated herein or in pursuant to my letter of undertaking; and
(b) I shall undertake to continue to pay any charges to be incurred for the application and/or renewal of the relevant licenses from the relevant authorities namely Majlis Perbandaran Pulau Pinang (‘MPPP’), Menteri Kewangan; and
(c) I shall execute all relevant documents to execute the change of partnership with immediate effect; and
(d) I shall ensure and try with my best endeavor to execute all the change of names necessary to effect the appointment and/or admission by you to (Name of Company).
Kindly acknowledge receipt on the duplicates attached herewith by signing and returning to us.
Yours faithfully,
………………………….
