Thursday, March 8, 2012

Dijaya asset injection to boost market cap to over RM1 billion

Business Times: Wed, Mar 07
in Kuala Lumpur MALAYSIAN builder Dijaya Corporation will see a significant enlargement in its assets and market capitalisation to over RM1 billion (S$417 million) once the privately held assets of its controlling shareholder and group CEO Danny Tan Chee Sing are injected into the company under a proposed amalgamation.


Under the exercise, Dijaya will acquire 73 properties consisting of plots of land as well as buildings held by Mr Tan's privately held company for some RM945 million to be satisfied via RM250 million in cash and the remainder through the issuance of 10-year, 2 per cent coupon loan stocks. The indicative open market valuation of the properties is RM1.1 billion...

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Martin Koh/ Sherry Tang
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