KUALA LUMPUR (Jan 14): See Hup Consolidated Bhd is selling nine plots of land in Penang measuring 853,863 sq ft in total for RM46.96 million cash to Tek Seng Holdings Bhd and a vehicle controlled by the latter’s executive chairman and managing director.
In a bourse filing, See Hup said the proposed disposal is expected to generate a pro forma gain of RM28.05 million. The market value of the property is RM45.20 million, as appraised by C H Williams.
The transportation and logistics company announced that its wholly-owned subsidiary Limsa Ekuiti Sdn Bhd had entered into a conditional sale and purchase agreement (SPA) with Tek Seng s subsidiary Wangsaga Industries Bhd and Tek Seng Properties & Development Sdn Bhd for the parcel of industrial land.
14 Jan 2021 / 23:37 H.
PETALING JAYA: See Hup Consolidated Bhd has entered into a conditional sale and purchase agreement for the disposal of a parcel of land in Seberang Perai Tengah, Penang, to Wangsaga Industries Sdn Bhd and Tek Seng Properties & Development Sdn Bhd for a cash consideration of RM46.96 million, via its wholly owned subsidiary Limsa Ekuiti Sdn Bhd.
According to the group’s Bursa filing, the price of the land parcel was determined based on “a willing-buyer and willing-seller basis” and translates to RM55 per sq ft, and an estimated 3.9% premium over the RM45.2 million market valuation carried out by CH Williams.
KUALA LUMPUR (Jan 14): Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Jan 15) include: FGV Holdings Bhd, TA Enterprise Bhd, AirAsia X Bhd (AAX), Pharmaniaga Bhd, Boustead Heavy Industries Corp Bhd (BHIC), See Hup Consolidated Bhd, Tek Seng Holdings Bhd, JCY International Bhd, George Kent (Malaysia) Bhd, Dayang Enterprise Holdings Bhd, Red Ideas Holdings Bhd, Jiankun International Bhd and Perak Transit Bhd.
The Federal Land Development Authority (Felda) bought 22 million shares in
FGV Holdings Bhd in the open market yesterday for RM28.38 million as part of its efforts to take the plantation company private. The shares were bought at RM1.29 per share, slightly lower than the RM1.30 cash offer Felda made for FGV shares.