“The proposed divestment allows UEM Sunrise to immediately unlock the value of the property at a gain in line with market value, and free up the cash to enable the group to pursue other investments and venture opportunities,”
Nonetheless, Crowe Horwath also highlighted that Zecon is taking measures to mitigate the existence of material uncertainty ongoing concern and its obligations falling due within the next 12 months.
The plaintiffs Chan Yoke Heng and 23 others’ claim against PDSB was allowed by the High Court on Sept 17, 2019.
Ooi holds a 17.38% stake in Heng Huat through Skylitech Resources Sdn Bhd. He is the second largest shareholder of the company.
The placement will raise RM276.66 million in gross proceeds.
The proposed acquisition will provide Sunway Group with geogrpahical and sectorial diversification, as well as a stable and sustainable income stream.
The proposed acquisition will provide Sunway Group with geogrpahical and sectorial diversification, as well as a stable and sustainable income stream.
The new agreement also includes SIA’s subsidiaries SilkAir and Scoot, as well as Firefly, the sister airline of MAB.
After reinventing its Menara HLA by offering co-working and co-living spaces, Tower REIT, part of the Hong Leong Group, is also looking to revamp another asset in an attempt to improve occupancy and net property income.
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