In a filing with Bursa Malaysia, Country View said that the acquisition
KUALA LUMPUR (Bernama): MTD ACPI Engineering Bhd plans to expand its construction and property business by acquiring 100% equity interest in Orangebeam Construction Sdn Bhd and Orangebeam Development Sdn Bhd from the Putrajaya Perdana group.
In a filing with Bursa Malaysia today, MTD ACPI said it had entered into a heads of agreement (HoA) with Putrajaya Perdana and its unit Putra Perdana Development Sdn Bhd to facilitate negotiations to acquire the two companies at prices to be determined later.
Orangebeam Construction, which is involved in construction activities, has an issued share capital of RM45.25mil comprising 40 million ordinary shares.
Meanwhile, Orangebeam Development, which undertakes property development and construction, has an issued share capital of RM5mil comprising 5 million ordinary shares.
MTD ACPI said the parties would execute the share sale and purchase agreements for the acquisitions within three months from date of the HoA or such other period as may be mutually agreed.
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