Nexgram to buy 70% stake in Top Symphony for RM24.8mil

PETALING JAYA: Nexgram Holdings Bhd has proposed to acquire a 70% equity interest in Top Symphony Sdn Bhd for RM24.8mil.

In a filing with Bursa Malaysia yesterday, the company said its unit Nexgram Land Sdn Bhd entered into an with South Venture Holdings Ltd to acquire 4.2 million shares in Top Symphony.

Nexgram said the proposed acquisition would allow it to participate in Fiji’s economic development and growth process, which is still currently in the early stages of development.

The proposed acquisition will be financed by a combination of internal funds and/or bank borrowings.

Nexgram does not expect the proposed acquisition to have any significant effect on its earnings for the financial year ending April 30, 2015.

Nexgram expects the proposed acquisition to be completed in the third quarter of the 2015 financial year.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Astro posts lower Q2 net profit due to elevated content cost�
Southern Acids Q1 net profit climbs on higher commodity prices�
Bursa Malaysia ends higher after volatile trading
Public Bank clinches record Best Bank in Malaysia award for 15 years
Universal Music Group shares surge on stock market debut
Evergrande woes hit Japan's toilet, air-conditioner and paint manufacturers
Mah Sing plans 10 property launches, focus on affordable products
Oil rises 1% as U.S. storm aftermath tightens U.S. supply
Malaysia pavilion hits RM572mil sales in CAEXPO 2021
Perak Transit issues RM100mil Islamic notes under expansion plan

Stories You'll Enjoy