Journey to Wealth
News Highlights - IHH Healthcare, TSH Resources, Property Sector
IHH Healthcare Bhd (RM3.15/share)
Gets green light to delist Turkey unit
IHH Healthcare Bhd's plan to delist its unit Acibadem Saglik Hizmetleri ve Ticaret AS (ASH) on the Istanbul Stock Exchange, has been approved by the Capital Market Boards of Turkey. IHH, which bought a 60% stake in Acibadem, has a voluntary tender offer for the balance publicly traded shares of the latter on the stock exchange, the company said in a filing with Bursa Malaysia yesterday.
It has been decided that the offer price would be applied during the voluntary tender offer transaction to shareholders of Acibadem Saglik Yatirimlari Holdings A.S. Almond Holdings A.S. per B class Acibadem share, with a nominal value of 24.90 Turkish Lira. Transactions on the voluntary tender offer will be realised between Aug 3 and Aug 16. ' StarBiz
TSH Resources Bhd (RM2.60/share)
Extends acquisition offer
TSH Resources Bhd's proposed acquisition to integrate its business with Pontian United Plantations Bhd (PUPB) has been extended from 5pm on Aug 7 till 5pm on Aug 22.
TSH had proposed the acquisition of PUPB's entire voting shares of RM1 each via its indirect wholly-owned subsidiary Bisa Jaya Sdn Bhd, together with Chin Leong Thye Sdn Bhd, Lee Chin Hwa, Lee Min Huat and Lee Sep Pian.- StarBiz
Property Sector
Bidding process for RRI land to start by year-end
The prequalification process for bids for the Rubber Research Institutes of Malaysia (RRI) land in Sungai Buloh, Selangor, will start by the end of this year, says a source close to the Employees Provident Fund (EPF). The source said EPF would call for the prequalification bids as soon as it gets the government's nod for the proposed development of the land. Pre-qualification bids would be opened to developers who meet the requirements, he said.
EPF is the land owner and master developer of the project. It is buying 890ha of the available 1,215ha RRI agricultural land from the Federal Government for over RM2bil. The pension fund is expected to carve out the land in parcels of 20ha to 200ha each, depending on the use of it. The idea is to build low-end to luxury housing and commercial properties.
The balance of the RRI land is to house the Malaysian Rubber Board hub (217ha) and the My Rapid Transit (MRT) Sungai Buloh depot (72ha). The master planning for the land development is being carried out by EPF's wholly-owned unit, Kwasa Land Sdn Bhd.
An official from the EPF said Malaysian Resources Corp Bhd (MRCB) was not involved in the master planning. ' Business Times
Source: AmeSecurities
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
