Yong Tai plans to raise RM54mil to part finance land purchase

Yong Tai group chief executive officer Datuk Wira Boo Kuang Loon(filepic) said that the decision of Co-Prosperity to increase its equity participation in the company demonstrated the shareholder

PETALING JAYA: Property developer Yong Tai Bhd is raising RM54.18mil from it’s Hong Kong based major shareholder through a private placement exercise.

Proceeds from the exercise would be used to part finance the purchase of 1.08 acres of land in Bukit Bintang, Kuala Lumpur, the company said in a statement yesterday.