Sino Haijing to invest RM280mil in Yong Tai

Artist’s impression: A total of RM150mil would be used to fund the balance purchase consideration for the acquisition of Impression land and the construction and production cost for the Impression Melaka project.

KUALA LUMPUR: The move by Hong Kong-listed Sino Haijing Holdings Ltd to invest RM280mil in Yong Tai Bhd is not as a white knight to rescue the latter but as an investment to facilitate Yong Tai’s expansion plans.

The investment under a corporate exercise involves the issuance of new shares and irredeemable convertible preference shares (ICPS).