Metacorp Australia to acquire 38.1% interest in Whitsundays Australia

KUALA LUMPUR: Metacorp Australia Pty Ltd, is acquiring 38.1% equity interest in Whitsundays Hermitage Pty Ltd for A$95,000 (RM281,718).

Metacorp Australia is a wholly-owned subsidiary of Metacorp Bhd which in turn is a wholly-owned subsidiary of MTD Capital Bhd.

The transaction is on a willing-buyer willing-seller basis and represented an opportunity for Metacorp Australia to increase its control in Whitsundays for its potential prospects, MTD told Bursa Malaysia in a filing on April 30.

Upon completion of the transaction, Whitsundays will become a subsidiary ofMetacorp Australia.

Whitsundays was incorporated in Australia on March 15, 2002, and is jointly owned by Casdyne and Metacorp Australia.

Its issued and paid-up share capital comprised 42 ordinary shares of A$1 each. Whitsundays is the developer of the completed Blue Horizon Resort Apartments in Airlie Beach, Queensland. -- Bernama