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Lin Ganghe: Hit the iron while it's hot
Lin Ganghe's corporate proposals are aimed at streamlining, restructuring, rationalizing, and merging the businesses and assets currently owned and controlled by him and his co-actors through various listed and unlisted companies, and integrating his direct shareholding in various companies.
These proposals will enable the expanded Excelsior to become one of the domestic public-private partnership (public-private partnership) groups involved in construction, real estate development, infrastructure, and planting.
Furthermore, these corporate activity proposals aim to reduce any potential conflicts of interest and speculation relating to Lin's interests as a major shareholder of the company. It would also eliminate many of the current recurring transfer pricing issues between related parties in transactions.
The first proposal involves the merger of the construction business of Roujian and Roujian. Roujian will acquire the entire share capital of Ekovest Construction Sdn Bhd (Ekovest Construction Sdn Bhd), a wholly-owned subsidiary of Ecovest Construction. Rou Jianshe plans to pay by issuing new shares of 60 cents per share.
The second proposal involves Excelsior's proposed acquisition of 4 parcels of land (approximately 17 acres) in Johor Bahru, which are intended to be used to develop 2 potential transport-oriented development projects (TOD) along the Johor Bahru - Singapore MRT system. Excelsior plans to pay TOD 2 and TOD 3 sellers through a combination of cash and the issuance of new Exacus shares (offering price of 60 cents per share).
In the third proposal, Excelsior plans to acquire at least 51% or more of Credence Resources's issued share capital. Credence currently holds 63.13% of Iskandar Seaside Holdings (IWH, Yihai Holdings for short), while Yihai Holdings holds 34.29% of Seaside City's shares. Excelsior will pay the purchase price by issuing new shares (60 cents each).
The fourth proposal is for Seaside City to acquire all of the shares of all existing direct holding subsidiaries of Yihai Holdings in order to combine the industries and assets of the two parties. Seaside City proposed issuing new shares to Yihai Holdings to pay the purchase price. The issue price for each new share was 80 cents.
The above corporate activities will be carried out separately and independently when the board of directors of each company deems it appropriate, and there are no conditions attached to or against each other.
Integrate resources to expand the group
Lin Ganghe pointed out that in view of the similar core businesses of the above companies, these proposals aim to integrate the assets, resources and capabilities of all parties through Excelsior to enhance the performance, competitiveness and operational sustainability of the expanded group.
These proposals will enable the expanded Excelsior to become one of the domestic public-private partnership (public-private partnership) groups involved in construction, real estate development, infrastructure, and planting.
Furthermore, these corporate activity proposals aim to reduce any potential conflicts of interest and speculation relating to Lin's interests as a major shareholder of the company. It would also eliminate many of the current recurring transfer pricing issues between related parties in transactions.
The first proposal involves the merger of the construction business of Roujian and Roujian. Roujian will acquire the entire share capital of Ekovest Construction Sdn Bhd (Ekovest Construction Sdn Bhd), a wholly-owned subsidiary of Ecovest Construction. Rou Jianshe plans to pay by issuing new shares of 60 cents per share.
The second proposal involves Excelsior's proposed acquisition of 4 parcels of land (approximately 17 acres) in Johor Bahru, which are intended to be used to develop 2 potential transport-oriented development projects (TOD) along the Johor Bahru - Singapore MRT system. Excelsior plans to pay TOD 2 and TOD 3 sellers through a combination of cash and the issuance of new Exacus shares (offering price of 60 cents per share).
In the third proposal, Excelsior plans to acquire at least 51% or more of Credence Resources's issued share capital. Credence currently holds 63.13% of Iskandar Seaside Holdings (IWH, Yihai Holdings for short), while Yihai Holdings holds 34.29% of Seaside City's shares. Excelsior will pay the purchase price by issuing new shares (60 cents each).
The fourth proposal is for Seaside City to acquire all of the shares of all existing direct holding subsidiaries of Yihai Holdings in order to combine the industries and assets of the two parties. Seaside City proposed issuing new shares to Yihai Holdings to pay the purchase price. The issue price for each new share was 80 cents.
The above corporate activities will be carried out separately and independently when the board of directors of each company deems it appropriate, and there are no conditions attached to or against each other.
Integrate resources to expand the group
Lin Ganghe pointed out that in view of the similar core businesses of the above companies, these proposals aim to integrate the assets, resources and capabilities of all parties through Excelsior to enhance the performance, competitiveness and operational sustainability of the expanded group.
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