The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila
KUALA LUMPUR: Hong Leong Industries Bhd
and other stakeholders of Malaysian Newsprint Industries Sdn Bhd (MNI) have entered into an agreement to sell their entire interests in the company to Asia Honour (Hong Kong) Ltd.
Hong Leong Industries has a 33.65% stake in MNI comprising ordinary shares which it will sell to Asia Honour for RM22.3mil cash, and redeemable preference shares, which it will sell for "an amount equivalent to HLI’s portion of the balance consideration" after deducations for debts and costs from the sum of RM338mil.
According to a stock exchange filing, the proposed disposal will be completed eight business days from May 2, being the date of the agreement.
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