"The money that we generate from the sales of assets will then be reinvested into other assets, and we want to make sure that it gives a better return and profit to Khazanah and subsequently will be able to give dividends to the government."
Doing so may also lead to price increases and profiteering again on top of the government being accused of flip-flopping on its policies and causing the loss of business confidence.
Ho Hup said it will benefit from the interest savings generated from the utilisation of proceeds raised from the proposed exercise for partial repayment of borrowings, as well as working capital for its construction projects.
In a bourse filing today, TRC Synergy Bhd said its wholly-owned subsidiary TRC Land Sdn Bhd has today received a withdrawal of the notice of termination by Perbadanan Putrajaya.
The sum of RM2.97 million is the amount owed for the goods delivered and services provided by Ipmuda.
He is also offering three sen apiece for the remaining 523.5 million warrants — 51.57% of the outstanding warrants he does not hold.
IHH said its wholly-owned unit, Pantai Holdings Sdn Bhd (PHSB), has signed a conditional share purchase agreement with Pulau Memutik Ventures Sdn Bhd (PMV), a wholly-owned subsidiary of Khazanah Nasional Bhd, for the acquisition of the stake comprising 100 million shares and 35,176 redeemable preference shares. PMV holds a 26.04% stake in IHH
"According to (Kerjaya Prospek Group's) management, it is seeing more requests by clients to move the progress timeline of their projects in order to manage payments to contractors."
In a bourse filing yesterday, Pintaras said the contracts were secured via its indirect wholly-owned subsidiary in Singapore, Pintary Foundations Pte Ltd.
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