- News
- Market Watch
- Bursa Malaysia
- My Portfolio
- Exchange Rates
- Unit Trusts
- Market Intelligence
- IPO Watch
- Company Ratings
- Bonus & Dividends
- Financial Results
- Share Buybacks
- Changes in Shareholdings
- Currency Converter
- Investor Relations
- Maritime
-
Published: Wednesday July 18, 2012 MYT 7:34:00 PM
MBSB to sell property unit to Ken Holdings for RM56.1m
KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) is selling its 100% stake in its property development unit Gadini Sdn Bhd to Ken Holdings Bhd for RM56.17mil cash.
MBSB said on Wednesday it was selling the 3.97 million shares for RM40.56mil cash.
“Total cash proceeds to be received by MBSB from the proposed disposal will be RM56.17mil,” it said, adding the amount included RM13.61mil which was earlier advanced to Gadini and tax liabilities of RM2mil.
To recap, on Jan 7, 2009, MBSB announced it Gadini had entered into a sale and purchase agreement to disposes of several properties in Johor to Sazean Holdings Sdn Bhd for RM70mil.
Subsequently, Sazean decided to novate all its rights and liabilities under the sale and purchase agreement to Ken Holdings' unit, Ken Property Sdn Bhd.
MBSB then entered into the share sale agreement with Ken Holdings to sell Gadini.
- Police release 18 protestors in front of Jinjang police station
- Unicef welcomes move to protect girl from alleged rapist
- Ahmad Zahid: Adhere to Act or pay a heavy price
- First meeting of first session of 13th Parliament begins June 24
- Special team formed to probe lockup death
- Pandan MP to stand trial for violation of banking secrecy over NFC documents
- EC to start redelineation of electoral constituencies
- DAP's Thanksgiving Rally (Live Updates)
- Zahid asks for evidence of electoral roll impropriety; says he’ll get to the bottom of it
- NFC chief tells court that he trusted the consultant because he claimed he was sent by Dr M
- Home Ministry seizes tabloids published by Opposition
- Large migrant population a security threat, says Sabah's top cop
- Pakatan to file 27 election petitions, says Tian Chua
- Transport Ministry reveals new FT registration plate to start with W1A
- Ahmad Zahid: Government will take action on foreigners who abuse student visas
- IHH Healthcare earnings up 3.6% to RM127.27m
- Petronas Dagangan Q1 earnings down 3.7% to RM237m
- Japan's tumble drags key regional, European markets lower (Update)
- KUB in JV with Singapore's Hiap Seng for Petronas project
- TDM to plant 5,000ha of new trees every year in Kalimantan
- KLCI falls to low of 1,765, rattled by Japan, HK
- Japan stocks crash on volatile bonds, weak China data; Nikkei ends down 7.3%
- MISC posts RM300m net profit in Q1, sees challenging year ahead (Update)
- KL Kepong slips to low of RM21.36 as quarterly profit drops
- Maybank's Q1 earnings up 11.8% to RM1.506b (Update)
- Lafarge Cement positive on markets, mulls expanding capacity
- Dayang Enterprise awards RM705m contract to Perdana Petroleum
- KLCI pauses, Japan, Hong Kong key indices slide (Update)
- ECM Libra plans to exit PN17 by year-end
- China HSBC flash PMI hits 7-mth low, fans growth fears
- Ranger, militant killed in Thai south shootout
- Japan man, 80, scales Everest, sets record
- Philippines vows to defend territory against China
- S. Korean girl killed by suicide jumper
- Ecuador warns satellite could hit rocket remains
- Short-story writer Davis wins Booker International Prize
- Two babies among US tornado victims
- Anti-Islamist protests flare following London attack
- 'British solider' butchered in suspected Islamist attack (Updated)
- Rugby: Former All Black coach Henry on misconduct charge
- Ice queen Nicol into British Open quarters
- Australia to consider following ban on anchor putters
- Intxausti wins 16th stage, Nibali still keeps pink jersey
- Indonesia drawn to meet China again – in knockout stage
- Results worldwide
- Malacca sprinter Mohd Azam Masri out to create history by winning five events in MSSM meet
- Athletics runs in the veins of Vallabouy family
- Chinese long jumper Jinzhe claims another Olympic scalp
- Dane Jorgensen’s wish is to avoid Chinese ace Lin Dan in World Championships
- National badminton team’s lack of depth a glaring factor in home tourney
- Khim Wah-V Shem perform above expectations in Sudirman Cup debut
- Jindapon aims to qualify for 2016 Olympics
- Kenichi’s goal is to take Japan into Sudirman Cup semi-finals
- Dong-keun shows he’s a capable replacement
- Aeon director: GST won’t affect group
- KLCI falls to low of 1,765, rattled by Japan, HK
- Japan stocks crash on volatile bonds, weak China data; Nikkei ends down 7.3%
- Malaysia's blue chips fall more than 6pts in early trade
- Report: AirAsia X sets indicative price for IPO
- Petronas Chemicals Group to invest RM3bil in capital expenditure
- Maybank's Q1 earnings up 11.8% to RM1.506b (Update)
- Profit taking may weigh on Malaysian equities
- KLCI pauses, Japan, Hong Kong key indices slide (Update)
- ECM Libra plans to exit PN17 by year-end
- Petronas Chemicals Group to invest RM3bil in capital expenditure
- KUB in JV with Singapore's Hiap Seng for Petronas project
- Report: AirAsia X sets indicative price for IPO
- Maybank's Q1 earnings up 11.8% to RM1.506b (Update)
- Dayang Enterprise awards RM705m contract to Perdana Petroleum
- Asean flavour in Invest M’sia confab
- TDM to plant 5,000ha of new trees every year in Kalimantan
- MISC posts RM300m net profit in Q1, sees challenging year ahead (Update)
- KL Kepong slips to low of RM21.36 as quarterly profit drops
- ECM Libra plans to exit PN17 by year-end
RSS
