Ter injects assets into Sunsuria

Ter is mainly injecting shares of Sunsuria Gateway Sdn Bhd, Sunsuria Medini Sdn Bhd and Rentak Nusantara Sdn Bhd into Sunsuria. These are his private property companies which already own existing property development projects which have a collective gross development value of RM10bil.

PETALING JAYA: Datuk Ter Leong Yap, the major shareholder of Sunsuria Bhd, is injecting his private property assets of over 440 acres worth RM350mil and which comes with a gross development value of RM11bil into Sunsuria.

Out of the proceeds, Ter will be reinvesting some to subscribe for 102.04 million new shares in Sunsuria at an issue price of 98 sen, which will increase his stake to some 58% from 51.12% currently. (98 sen is the theoretical ex-rights price of Sunsuria shares).