On the rationale for the HOAs, UEM Sunrise said for phase 3 of the SILC, it has decided to collaborate with AME Elite Consortium to develop an integrated industrial park development.
The group said its unit Sea Resorts Development Sdn Bhd (SRDSB) had obtained a money lending licence, valid from Sept 21, 2020, from the Ministry of Housing and Local Government (KPKT) yesterday under the Moneylenders Act 1951 and Moneylenders (Control and Licensing) Regulations 2003.
Liew still controls a direct stake of 9.41% and an indirect stake of 5.29%.
Upon completion of the debt restructuring and capitalisation exercise, the company's issued share capital would more than quadruple to 2.79 billion shares, while its gearing would drop to 0.34 times from 0.9 times as of end-2019.
The building, whose net book value stood at RM586 million as at the close of the financial year ended Dec 31, 2019 (FY19), is being sold for a gain of RM114 million.
For the RM100 million fresh capital to be raised, the group has earmarked RM95 million for future investments in its business. The balance RM5 million would be used for working capital requirements.
R0, an indicator of how contagious the infection is, shows the average number of people who will contract the disease from a single infected person. Tan Sri Dr Noor Hisham Abdullah said the country's R0 was back above one with a value of 1.34 as of yesterday. Sabah's R0 value was 1.37 and Kedah's was 1.15.
In a bourse filing yesterday, the property developer said it will be placing 30.61 million shares — representing 10% of its share capital — to selected third-party investors.
In a bourse filing, the group said the court had also ordered Deepak to pay costs to UMW Toyota.