OCR Group plans RM27m private placement to fund development projects
Property developer OCR Group Bhd has planned a private placement of up to 40% of its share base to raise an estimated RM26.97 million to fund its development projects.
Property developer OCR Group Bhd has planned a private placement of up to 40% of its share base to raise an estimated RM26.97 million to fund its development projects.
The stake, comprising 69.89 million shares was sold via direct business transactions on March 30.
The purpose of the exercise is to reduce UDA’s financial burden and ensure the company continues to implement development projects for the economic growth of the country as well as safeguard the interest of bumiputera in urban areas.
The MOU is part of China’s RM170 billion foreign direct investment commitments secured by Malaysia in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to China last week.
Berjaya Land Bhd (BLand)’s application for a six-month extension to comply with its approved public shareholding spread requirement of 20% was rejected by Bursa Malaysia Securities Bhd.
Symphony Life Bhd is suing its former development partner for RM150 million over a terminated agreement to jointly develop residential condominiums in Langkawi.
PTT Synergy Group Bhd (formerly Grand Hoover Bhd) is acquiring construction firm Pembinaan Tetap Teguh Sdn Bhd (PTTSB) from its major shareholders and directors for RM152 million, to grow its construction business.
Vizione Holdings Bhd has revoked its agreement to acquire property development company Midlands City Sdn Bhd for RM38 million from its managing director and others.
Shareholders of LEAP Market-listed Lim Seong Hai Capital Bhd (LSH Capital) have paved the way for the construction-related products and service provider to transform into a full-fledged construction and construction-related services and solutions provider.
Eastern & Oriental Bhd (E&O) has proposed to pay RM46.95 million to purchase the remaining 40% equity interest in E&O-PDC Holdings Sdn Bhd from Penang Development Corporation (PDC), to enable E&O to wholly own the Seri Tanjung Pinang reclamation and development concession.