IOI Properties makes RM7.7 bil bid for Singapore land
KUALA LUMPUR (Nov 9): IOI Properties Group Bhd submitted a S$2.57 billion (about RM7.7 billion) bid for a 1.09ha tract in Singapore's Central Boulevard.
In a statement to Bursa Malaysia today, IOI Properties said it submitted the leasehold tract bid to the Urban Redevelopment Authority, which is acting as agent on behalf of the Singapore Government.
"The decision on the award of the tender will be made after all bids have been evaluated. The company will make the relevant announcements once such decision has been made," said IOI Properties, which is bidding for the land via 100%-owned subsidiary Wealthy Link Pte Ltd.
IOI Properties' share trade was suspended between 9am and 10am today in conjunction with the announcement. Yesterday, the stock closed higher at RM2.43 for a market value of RM10.72 billion. — theedgemarkets.com
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