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.