Signature International gets takeover offer from Chin Hin at 84 sen per share
The mandatory takeover offer was triggered subsequent to Chin Hin’s acquisition of a 4.
The mandatory takeover offer was triggered subsequent to Chin Hin’s acquisition of a 4.
Following the distribution of RM144 million dividend during the first quarter of FY2024, the group still has a net cash balance of RM211 million as at Jan 31, 2024.
A joint statement on Tuesday said there will be two parts to the partnership — an energy performance contract (EPC) and a memorandum of business exploration (MOBE).
Ab Aziz will officially assume the position upon an official announcement at the upcoming 74th Fiabci World Real Estate Congress 2024, which will be held May 27-31 in Singapore.
The company completed its Australian projects but still has a “significant” presence in the UK, it noted.
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The group intends to declare a first tranche of dividends amounting to at least RM144 million.
Even with potentially higher debt, Chin Hin said it is an "opportune time" to increase its stake in Signature given the latter’s positive earnings prospects and synergy between the duo going forward.
Under the LOI, Vegetta Champion was supposed to carry out the construction of the foundation and main building works of the Genting Highlands project, while Kanger Ventures would be responsible for its entire project management, financials and administration.
Kenanga said IJM’s acquisition of the Shredded Wheat factory site aligns with its UK expansion strategy, building on the success of the Royal Mint Garden project where it first partnered Network Rail, which is the owner of most highway rails in the country.