Dividend in species to the shareholders of Iskandar Waterfront Holdings Sdn Bhd ("IWH") and all the entitlement of the shareholders were distributed to Serumpun Abadi Sdn Bhd ("SA").
SA is a joint venture company between Credence Resources Sdn Bhd ("CR") and Kumpulan Prasarana Rakyat Johor Sdn Bhd with the same proportion of shareholdings as in IWH.
CR is the holder of more than 15% of the voting shares of SA, and Tan Sri Dato' Lim Kang Hoo holds more than 15% of the voting shares of CR.