Philippines' Ayala to make GO for Malaysia's MCT

Regent Wise will be acquiring the shares from Tan Sri Goh Ming Choon, another major shareholder of the company, the firm said in an announcement to Bursa Malaysia.

KUALA LUMPUR: Philippines-based property developer Ayala Land Inc’s unit Regent Wise Investments Ltd will buy some 230 million shares in Bursa Malaysia-listed property counter MCT Bhd for RM202.5mil cash, or 88 sen per share, upping its current stake in the firm from 32.95% to 50.19%.

Regent Wise will be acquiring the shares from Tan Sri Goh Ming Choon, another major shareholder of the company, the firm said in an announcement to Bursa Malaysia.