In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.
KUALA LUMPUR: Benalec Holdings Bhd
is planning to raise as much as RM31.4mil by placing out new shares in the company to third party investors it will identify at a later date.
The company, in a filing with Bursa Malaysia today, said proceeds fom the exercise will be used to fund on-going and future land future and on-going reclamation projects.
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