?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday
PETALING JAYA: Eastern and Oriental Bhd
(E&O) is targeting to raise as much as RM550mil by selling new shares, as the developer seeks funds to reduce debts and pay for new reclamation work at the ongoing Phase two of Seri Tanjung Pinang (STP2) project in Penang.
In a filing with Bursa Malaysia, E&O said it planned to raise the amount through the issuance of rights shares and private placement.
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