The Johor-based oil palm planter and property developer said it had entered into a conditional share sale agreement with Nizam to acquire the entire 100,000 shares in Tiger Aquaculture Sdn Bhd (TASB).
The deal will see Kuchai holding 29.
The conditional relief indulgence (CRI) agreement involves a six-month relief period for Optimal Property Management Sdn Bhd (OPM), a 100% subsidiary of Bintai Kinden, with monthly loan repayment of RM500,000.
The premium, currently charged at 21.
Saiful Nizam, the son-in-law of Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, was first appointed to the board of Jiankun as an independent non-executive director in April 2021.
Besides IJM, the other two consortium members are said to be Pestech International Bhd and French rolling stock maker Alstom, both of which are the original contractors.
The company said it is seeking Bursa's approval for relief from having to offer the shareholders a reasonable cash alternative to the exit offer.
On a quarterly basis, the group’s net profit came in higher from RM4.
Is it a freebie in the truest sense of the word? Are buyers really enjoying a waiver of such legal fees? To woo purchasers in a competitive property market, developers often offers various freebies, including air-conditioners, kitchen cabinets, automatic gates, club memberships and legal fees.
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