WCT units in land deal with S’pore-based Core

WCT and Bina Puri are among the more active contractors in Sabah over the past few years

PETALING JAYA: WCT Holdings Bhd’s wholly owned subsidiaries, WCT Land Sdn Bhd (WCTL) and WCT Precious Development Sdn Bhd (WCTPD), had entered into a shareholders agreement with CCCG Overseas Real Estate Pte Ltd (Core) to develop land held by WCTPD.

Following the shareholders agreement, Core has nominated CORE (Singapore) TRX Investment Pte Ltd (Core SPV) and China Communications Construction Company (M) Sdn Bhd (CCCC (M)) as the new shareholders of WCTPD to subscribe for 200 million new ordinary shares in WCTPD, representing 80% of the enlarged issued share capital of WCTPD for a total subscription consideration of RM200mil.