Sunway said the 47 residential units comprised a built-up area of 2,266 sq ft, which are well furnished with marble flooring in the living room, timber strip flooring in the bedrooms, kitchen cabinets and wardrobes for all bedrooms.
The property and construction group said the exercise involves issuing up to 93.01 million shares, equivalent to 30% of the enlarged capital, to selected investors.
Given that the big rail theme is “falling like dominos”, CIMB said it is retaining an underweight call on the overall construction sector, which is on “a bumpy rail track.”
In view of the cash payment, WZ Satu said it “will no longer issue any consideration shares to the vendors under the acquisition”.
IOI Properties said it remains optimistic that its properties across strategic locations in Malaysia and overseas will continue to draw prospective buyers.
The first phase will consist of 320 units of double-storey link houses of 1,500 sq ft to 1,900 sq ft, with a total GDV of RM185 million.
The buyer is CHHT executive director and shareholder Ricky Yip Chun Mun.