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Gadang Holdings acquires Hillstrand Development for RM2

KUALA LUMPUR: Gadang Holdings Bhd announced on Bursa Malaysia on April 13 it acquired Hillstrand Development Sdn Bhd for RM2, via wholly owned subsidiary Gadang Land Sdn Bhd.

Gadang paid for two ordinary shares of RM1 each, which represents 100% of the issued and paid-up share capital of Hillstrand Development. The intended principal activity of the new subsidiary is property development, stated the announcement.

Hillstrand Development was incorporated on Dec 7, 2009, with an authorised share capital of RM100,000, of which two shares of RM1 each have been issued and fully paid-up.

Gadang Holdings is an investment holding company with subsidiaries in civil engineering and construction, property development, water concession, manufacturing and trading of decorative and protective coatings, mechanical and electrical engineering services and oil palm plantation.

It was incorporated on Oct 6, 1993, as a public-limited company under the name of Lai Sing Holdings Bhd and subsequently changed to its present name on Nov 7, 1997.
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