Saturday, June 30, 2007

IJM Prop eyes 50pc of Larut Leisure

IJM Prop eyes 50pc of Larut Leisure

By BUSINESS TIMES

IJM Corp Bhd's subsidiary, IJM Properties Sdn Bhd (IJMP), plans to buy a 50 per cent stake in Larut Leisure Enterprise (Hong Kong) Ltd (LLE) from Talam Group for HK$1 (HK$100 = RM44.40). The deal will also see IJMP assuming a loan of RM25.63 million from the Talam group to LLE. LLE owns a 60 per cent interest in Jilin Dingtai Enterprise Development Co Ltd, which owns a partially completed "Yin Hai Complex" in Jilin Province, China. The gross sales value of the proposed 35-storey commercial cum residential complex is estimated at RM340 million. LLE is a wholly-owned subsidiary of Larut Overseas Ventures Sdn Bhd, which is a wholly-owned subsidiary of Talam.

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