's subsidiary Idaman Harmoni Sdn Bhd has proposed to acquire three plots of land measuring 14,846 sq metres in Petaling Jaya, Selangor for RM18mil cash. “The proposed acquisitions represent an opportunity for Mega First to acquire valuable piece of commercial land strategically located in an area with good potential for development,” the company told the KLSE.
's wholly-owned subsidiary Sungei Wang Plaza Sdn Bhd has proposed to issue RM213mil nominal value redeemable secured serial bonds to retire its RM220mil loan. “The shortfall of RM7mil and balance of the estimated expenses would be sourced from Sungei Wang's designated accounts,’’ the company told the KLSE.
The exercise was undertaken to take advantage of the favourable interest rate.
“The proposed acquisitions represent an opportunity for Mega First to acquire valuable piece of commercial land strategically located in an area with good potential for development,” the company told the KLSE.
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