Bursa Alert
Global Market
NewsUpdate IJM Land buys stake in MCKIP from SP Setia for RM9.7 mil
Page 1 of 1
Update IJM Land buys stake in MCKIP from SP Setia for RM9.7 mil
by Cals Wed 16 Jul 2014, 07:32
| Update IJM Land buys stake in MCKIP from SP Setia for RM9.7 mil |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Monday, 14 July 2014 21:12 KUALA LUMPUR (July 14): IJM Land Bhd has announced that it has entered into a Sale and Purchase agreement with SP Setia Bhd, to acquire 40% of Kuantan Pahang Holdings Sdn Bhd (KPH) for RM40 cash. Under the agreement, IJM Land will also repay SP Setia, the advances made to KPH as a corporate shareholder, totalling RM9.7 million. KPH is an investment holding company and holds 51% equity interest in Malaysia-China Kuantan Industrial Park Sdn Bhd (MCKIP). The announcement added that MCKIP was formed as an entity for the purpose of facilitating the cooperation between Malaysia and China, to develop a piece of land measuring approximately 729 acres located state of Pahang. “The acquisition further accentuates the group’s intention to diversify its existing pre-dominantly residential and commercial development projects portfolio and also to diversify its geographical presence into Pahang, following the acquisition of about 273.214 hectares of land, mainly industrial land, in the vicinity,” IJM Land said. |
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My 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€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» SP Setia buys land for RM3.5b township
» Update S P Setia buys fifth Australian plot for RM1.9b mixed development
» Update IGB unit buys UK prime land owner
» Update Pelaburan MARA buys a 5.2% stake in Ni Hsin
» Update Boustead buys Sabah oil palm land for RM185m
» Update S P Setia buys fifth Australian plot for RM1.9b mixed development
» Update IGB unit buys UK prime land owner
» Update Pelaburan MARA buys a 5.2% stake in Ni Hsin
» Update Boustead buys Sabah oil palm land for RM185m
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|