Digistar buys 40pc stake in Seni Pujaan (0029)

Digistar Corporation Bhd will acquire the remaining 40 per cent equity
interest in Seni Pujaan Sdn Bhd, a property developer, for RM13
million.


It already has a 60 per cent stake in the company and upon
completion of the proposed acquisition, Seni Pujaan will become its
wholly-owned subsidiary, Digistar Corp said in a statement to Bursa
Malaysia here today.



On April 28 last year, Digistar Corp ventured into the property
development following the 60 per cent equity acquisition in Seni
Pujaan. The company said the 100 per cent ownership of Seni Pujaan will
contribute further to its future earnings.



Currently, Seni Pujaan is developing a commercial property project
in Malacca, dubbed "The Heritage", and comprising 250 serviced suites
and 11 units of retail shops with an estimated gross development value
of RM150 million.







Digistar said the proposed acquisition is expected to be completed within three months. -- Bernama