The acquisition, which comes with a profit after tax (PAT) guarantee of not less than RM20 million per year from financial year ending Dec 31, 2021 (FY21) to FY23, will be undertaken via the issuance of 60 million new shares at 50 sen apiece to Super Advantage Sdn Bhd, who is selling the stake in SSSB to TCS.
Gamuda Bhd, Sunway Construction Group Bhd (SunCon), IJM Corp Bhd and Malaysian Resources Corp Bhd (MRCB) are expected to be among the beneficiaries.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar characterised Budget 2021 as an “expansionary and holistic budget” that is appropriate with current priorities for the rakyat’s wellbeing.
The Malaysian Association of Hotels (MAH) said the tourism and hotel industries are deeply concerned with the lack of immediate assistance to stakeholders suffering from reduced cash flow due to both domestic and international travel restrictions.
“Better job prospects on an improving economy will also improve household spending, as well as recovery in tourism-related sectors will contribute to better private consumption next year,” MoF wrote.
In its Budget 2021 wishlist, PEPS said the waiver should only be applicable for individual citizens, permanent residents and companies, and not non-citizen buyers, who are currently charged 30% on properties disposed of from the first to fifth year, and 10% thereafter.
Ageson Bhd is confident of achieving even higher earnings for the current financial year ending June 30, 2021 (FY21) after posting a record-high net profit in FY20.
The land is located on the east side of Jalan Desa Aman 1, off Jalan Cheras, Taman Desa Aman, Cheras.
In a statement, the bank said the employee is currently under quarantine and the affected office will be temporarily closed tomorrow.
UEM Sunrise said its wholly-owned unit UEM Land Bhd is disposing of 20% of its 60% stake in Aura Muhibah Sdn Bhd to KLK’s property development arm KLK Land Sdn Bhd for RM182.6 million.