Lee Chong Wei's company sold land to Lian Da Group for 80 million.
$MAGMA (7243.MY)$ Spending 80 million ringgit to buy land in Kuala Lumpur, and the seller is the former badminton legend of our country, Datuk Lee Chong Wei's company!
Formerly known as Impiana, Lian Da Group recently reported to the exchange that through a combination of cash and shares, they acquired a 2.6-acre land in Dutamas, Kuala Lumpur from Skyload Company.
The announcement also revealed that Lee Chong Wei holds 45% of Skyload's shares; the remaining 55% is owned by Lian Da Group's chairman, Datuk Sri Lee Fook Chong's company, Empire Solaris, making this a related party transaction.
The total value of the above acquisition is 80 million ringgit, with the group planning to allocate 8 million ringgit in cash, plus issue 0.12 billion convertible non-redeemable preferred shares to complete the acquisition of the land.
Will become a major shareholder.
After the stock acquisition is completed, Skyload will hold 11.23% stake in Uni-Group, making Lee Chong Wei a major shareholder of the group.
Lee Chong Wei currently directly holds 26.5 million shares of Uni-Group, equivalent to 2.80% equity; while his wife, Mew Choo Wong, also holds 7 million shares of the group, or 0.74% equity.
In this round of land acquisition, Uni-Group aims to expand its real estate business, with the land already approved to build 2 buildings, one for 34 suites of serviced apartments and the other for commercial space.
At the same time, Uni-Group also announced a capital reduction of 0.380 billion Ringgit, aiming to improve the balance sheet and strengthen the group's financial resilience.
–––
–––
【Contributing Journalist】 @AUSTIN CHONG
【Read Full Article】"Former Malaysian badminton number one" will become a major shareholder.
–––
Source of information: Nanyang Business Daily
Disclaimer: This content is for reference and educational purposes only and does not constitute any specific investment, investment strategy, or endorsement. Readers should assume any risk and responsibility caused by relying on this content. Before making any investment decisions, please conduct your own independent research and evaluation, and consult professionals if necessary. The author and related participants are not responsible for any loss or damage caused by the use or reliance on the information contained in this article.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Nanyang Siang Pau Official Account
《南洋商报》创立于1923年，是马来西亚历史最悠久的中文报纸之一。以财经及商业新闻为主，是商家与投资者必备的新闻资讯平台。
5757Followers
1Following
6237Visitors
Follow