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Hot Stock Damansara Realty rises following MOF approval on sale to Seaview Holdings

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Hot Stock Damansara Realty rises following MOF approval on sale to Seaview Holdings

Post by Cals Wed 23 Apr 2014, 22:28

Hot Stock Damansara Realty rises following MOF approval on sale to Seaview Holdings

Business & Markets 2014

Written by Jonathan Gan of theedgemalaysia.com

Wednesday, 23 April 2014 11:22

KUALA LUMPUR (Apr 23): Damansara Realty Bhd (DBhd) shares continued their uptrend today following Bursa announcements yesterday that its major stakeholder, JCorp had obtained approval from the Ministry of Finance in relation of its proposed sale to Seaview Holdings Sdn Bhd.

At 11:05am today, shares of the company rose to an all time high of RM2.05 per share before giving up its gains to settle at RM1.93 per share. The company saw some 10 million shares traded.

In its announcement yesterday, the company said: “We wish to announce that JCorp has informed the Company on 22 April 2014, that it had received an approval letter from the Ministry of Finance for the application by JCorp in relation to the proposed sale by the Vendors of the 157,780,000 ordinary shares of RM0.50 each in DBhd, representing 51% of the equity of DBhd to the Purchaser.

Seaview is a Johor-based company and its shareholders are Datuk Daing A Malek Daing A Rahaman, Abdul Aziz and Daing Abdul Rahim.

Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
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