acquires

 
 

Singapore group Royal Golden Eagle acquires Brazil's Lwarcel

SAO PAULO, May 24 — Singapore group Royal Golden Eagle said yesterday it had reached a deal to acquire Brazilian pulp maker Lwarcel Celulose Ltda for an undisclosed amount. Royal Golden Eagle owns pulp and paper maker Asia Pacific Resources Group,…


Sunzen Biotech acquires 70% stake in food firm for RM2.8m

PETALING JAYA: Animal health specialist Sunzen Biotech Bhd is acquiring 70% equity interest in food items manufacturer Amplio Ingredients Sdn Bhd for RM2.8 million, to venture into the business of trading and distribution of food ingredients, personal care and food product, as well as increasing its revenue stream.

The group told the stock exchange that it had entered into a sale of shares agreement and shareholders' agreement with Cheong Wai Loon and Low Yuan Heng for the acquisition.

Based on the audited financial statements as at September 30, 2017, Amplio's net profit attributable to assets was RM244,493 and net assets was RM1.08 million.

The deal is expected to be concluded by the end of the second quarter of 2018.

Sunzen's shares fell 8% to close at 23 sen with some 38,500 shares done.


Fajarbaru acquires Australian property developer

PETALING JAYA: Fajarbaru Builder Group Bhd has acquired 98% of Australian property development company Beulah Northcote Land Pty Ltd (BNL) for almost A$3 million (RM8.9 million).

In a filing with Bursa Malaysia today, the group said its wholly owned subsidiary Fajarbaru Land (M) Sdn Bhd acquired 98 ordinary shares at A$1 each in BNL, representing 49% of the total issued and paid up share capital in BNL.

The shares were acquired from Beulah Land Holdings Pty Ltd for total A$98 cash. BNL is a wholly owned subsidiary of Beulah Land Holdings Pty Ltd.

Fajarbaru Land will also inject the capital of A$2.99 million from its own funds.The additional capital to be injected by Fajarbaru Land is to part finance the development which includes land, development and other costs. The acquisition is expected to be completed by April 16.

According to Fajarbaru, the acquisition will provide the group with the opportunity to expand its earnings base generated from the property development and increase its presence in the property market in Melbourne, Australia.

Under a development agreement dated Dec 5, 2017 entered into between BNL and Beulah Northcote Land Trust (BNLT), BNL was granted the development rights for 1.24 acres of freehold land in Melbourne, Australia.

The development comprises at least 15 residential two-storey townhouses along Merri Creek in Northcote, Melbourne. BNLT is the land owner.

Fajarbaru’s share price rose 5.11% or 3.5 sen to close at 72 sen today with 247,300 shares traded.


China’s Meituan Dianping acquires bike-sharing firm Mobike for US$2.7b

BEIJING, April 4 — Meituan Dianping, China’s largest provider of on-demand online services, is buying bike-sharing firm Mobike for US$2.7 billion, in a deal that will intensify the rivalry of their common backer Tencent Holdings with Alibaba…


KSL’s unit acquires land in Johor for RM133.59m

KUALA LUMPUR, March 12 — KSL Holdings Bhd has proposed to acquire two parcels of leasehold land measuring 47.73 hectares in Tebrau, Johor Bahru for RM133.59 million cash. In a filing with Bursa Malaysia, the property developer said its…


Grab a bicycle, as GrabCycle looks set to ride into town

grabcycle_20180306162802_today

SINGAPORE (March 6): Ride-hailing firm Grab could be making a major foray into the bicycle-sharing industry, two months after it first announced a partnership with homegrown operator oBike. Since then, there have been hints that it could be riding into the turf dominated by Ofo, Mobike, and oBike. On Monday (Mar 5), Grab posted a teaser on its Facebook page about an announcement on Friday with the tagline, “Something wheelie exciting is coming”. In its invitation for a media event, the company hinted at a “single app” that allows usersRead More


Credit Saison acquires stake in Grab, forms joint venture

corporatenews10 feb2017

TOKYO (March 5): The euro clawed back earlier losses on Monday but remained prone to volatility as early counts in Italian elections pointed to stronger-than-expected results for euro-sceptic parties, with no major party blocs winning an outright majority. The common currency found some support as Germany’s Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel’s conservatives. The euro traded at $1.2333, slightly above its late U.S. levels, off its seven-week low of $1.21545, which it touched on Thursday. Exit polls and early counts showed Italy’s 5-Star Movement isRead More


Borneo Oil acquires quarry for RM47m via sublease

PETALING JAYA: Borneo Oil Bhd’s wholly owned subsidiary Borneo Oil & Gas Corporation Sdn Bhd is acquiring a quarry measuring 5.378ha in Lahad Datu, Sabah, for RM47 million as part of an on-going expansion plan into limestone mining and related activities as well as to export marble blocks.

The group’s board of directors said in a Bursa Malaysia filing, the acquisition which will be financed with internal funds, was done in the form of a sublease for a lease period of 30 years.

The parcel of land located in Ulu Segama, in Lahad Datu District has a reserve of 6.27 million metric tons (MT).

Marble blocks extracted from the quarry will be exported while the balance of resources to be used for limestone aggregates and related products.

The group is also of view that there is a great demand for aggregates and other construction material in Sabah with the ongoing construction of the Pan Borneo highway.

“With the acquisition, the company together with its existing land bank of limestone reserves held for long term investment shall become a substantial player in the supply of high grade limestone resources in Sabah,” its board of directors said.

While the acquisition will not impact its earnings, it is expected to contribute positively for future earnings.

The company’s share price closed unchanged at eight sen with some 14.5 million shares changing hands.


Borneo Oil acquires quarry for RM47m via 30-year sublease

PETALING JAYA: Borneo Oil Bhd’s wholly owned subsidiary Borneo Oil & Gas Corporation Sdn Bhd is acquiring a quarry measuring 5.378ha in Lahad Datu, Sabah, for RM47 million as part of an on-going expansion plan into limestone mining and related activities as well as to export marble blocks.

The group’s board of directors said in a Bursa Malaysia filing, the acquisition which will be financed with internal funds, was done in the form of a sublease for a lease period of 30 years.

The parcel of land located in Ulu Segama, in Lahad Datu District has a reserve of 6.27 million metric tons (MT).

Marble blocks extracted from the quarry will be exported while the balance of resources to be used for limestone aggregates and related products.

The group is also of view that there is a great demand for aggregates and other construction material in Sabah with the ongoing construction of the Pan Borneo highway.

“With the acquisition, the company together with its existing land bank of limestone reserves held for long term investment shall become a substantial player in the supply of high grade limestone resources in Sabah,” its board of directors said.

While the acquisition will not impact its earnings, it is expected to contribute positively for future earnings.

The company’s share price closed unchanged at eight sen with some 14.5 million shares changing hands.


Top Glove acquires Adventa Capital unit for RM1.37b

KUALA LUMPUR, Jan 12 — Malaysia’s Top Glove Corp Bhd said on today that it has acquired a surgical glove business owned by Adventa Capital Pte Ltd for RM1.37 billion. The acquisition of Aspion Sdn Bhd makes Top Glove one of the world’s largest…