Bintai Kinden acquires Johnson Medical to expand healthcare business 12 Apr 2021 / 21:06 H.
PETALING JAYA: Bintai Kinden Corp Bhd, which aims to include healthcare as one of its core businesses, is acquiring Johnson Medical International Sdn Bhd for RM50 million to expand its healthcare business segment.
The company yesterday entered into a memorandum of understanding (MoU) with the vendor Yeo Eng Lam to acquire the entire stake in Johnson Medical. The proposed acquisition would be satisfied via a combination of cash amounting to RM26 million and the issuance of 58.54 million new shares in Bintai Kinden at 41 sen each.
Pursuant to the MoU, Bintai and the vendor have mutually agreed to negotiate exclusively in good faith on the structures and terms of the proposed acquisition with the intention to finalise and enter into the relevant definitive agreements within 30 days from the date of the MoU or such other longer period as both parties may mutually agree upon.
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KUALA LUMPUR: Tuju Setia Bhd has inked an underwriting agreement with Alliance Investment Bank Bhd (AIBB) and CIMB Investment Bank Bhd for its initial public offering (IPO) on the Main Market of Bursa Malaysia.
AIBB is the principal adviser to Tuju Setia’s IPO exercise, as well as joint underwriter and joint placement agent, together with CIMB.
“The IPO exercise entails a public issue of 80 million new shares and offer for sale of 27 million existing shares,” the construction services company said in a statement on Tuesday.
Of the 80 million new shares, 15.9 million shares will be made available for application by the Malaysian public via balloting, and 6.3 million shares will be made available for application by the group’s eligible directors, employees and persons who have contributed to the success of the group.
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Explanatory Memorandum
The object of this Bill is to amend the Construction Industry Development Board Act so as to provide for a more appropriate and modern legislative framework in view of the accelerating development in the construction industry.
2. Accordingly, the Bill makes provisions, inter alia –
(a) for the registration of providers of construction works and construction services, and suppliers of construction materials,
equipment, plant and labour for construction purposes;
(b) to the effect that nothing shall preclude a professional architect, a professional quantity surveyor and a registered professional
engineer from taking or using the name, description or title of “consultant” in his respective field;