Sunway and SunCity get shareholders nod for merger
Page 1 of 1
Sunway and SunCity get shareholders nod for merger
KUALA LUMPUR: Shareholders of SUNWAY HOLDINGS BHD [] and SUNWAY CITY BHD [] approved the proposed disposals of the two companies' asset and liabilities to Sunway Bhd at their EGMs on Wednesday, June 15.
The approvals would pave the way for the merger of the assets under a larger company which would be slated for listing in the third quarter of this year.
The new entity, called Sunway Bhd, will have two core businesses in property development and CONSTRUCTION [], with a potential market capitalisation of over RM3.5 billion.
This will make it the fourth largest property and construction by market capitalisation listed on Bursa Malaysia.
Sunway group founder and chairman, Tan Sri Jeffrey Cheah said the new entity will be better positioned and capitalised to take on bigger projects in the future.
The new entity will have a combined land bank of more than 2,200 acres with a total gross development value of RM25 billion
The approvals would pave the way for the merger of the assets under a larger company which would be slated for listing in the third quarter of this year.
The new entity, called Sunway Bhd, will have two core businesses in property development and CONSTRUCTION [], with a potential market capitalisation of over RM3.5 billion.
This will make it the fourth largest property and construction by market capitalisation listed on Bursa Malaysia.
Sunway group founder and chairman, Tan Sri Jeffrey Cheah said the new entity will be better positioned and capitalised to take on bigger projects in the future.
The new entity will have a combined land bank of more than 2,200 acres with a total gross development value of RM25 billion
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics
» Sunway falls on debut after property merger
» Notable Trade EPF, AmanahRaya emerge as substantial shareholders of Sunway
» Sunway adds RM100m Nickelodeon attraction to Sunway Lagoon
» Sunway REIT invests nearly RM1b in Sunway Putra Place
» Nod for merger
» Notable Trade EPF, AmanahRaya emerge as substantial shareholders of Sunway
» Sunway adds RM100m Nickelodeon attraction to Sunway Lagoon
» Sunway REIT invests nearly RM1b in Sunway Putra Place
» Nod for merger
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum