KUALA LUMPUR (Nov 8):'' GUOCOLAND (MALAYSIA) BHD [] (GLM) has proposed to acquire'' PJ City Development Sdn Bhd for a cash consideration of RM29.78 million.
It said on Tuesday, it had the acquisition involved 5.00 million shares of PJ City from'' GuoLine Asset Sdn Bhd.
PJ City's core business is property development and property investment activities.'' Based on its audited financial statements for FY ended June 30, 2011, PJ City recorded profit after tax of RM4.75 million while its net assets were RM38.61 million.
PJ City also owns two parcels of land in Section 32 in Petaling, Selangor. GLM said after the completion of the proposed acquisition, it intends to develop commercial office buildings and corporate factories on the land.
GLM also proposed to acquire PJ Corporate Park Sdn Bhd from MPI Holdings Sdn Bhd for a cash consideration of RM258,000.
It said on Tuesday, it had the acquisition involved 5.00 million shares of PJ City from'' GuoLine Asset Sdn Bhd.
PJ City's core business is property development and property investment activities.'' Based on its audited financial statements for FY ended June 30, 2011, PJ City recorded profit after tax of RM4.75 million while its net assets were RM38.61 million.
PJ City also owns two parcels of land in Section 32 in Petaling, Selangor. GLM said after the completion of the proposed acquisition, it intends to develop commercial office buildings and corporate factories on the land.
GLM also proposed to acquire PJ Corporate Park Sdn Bhd from MPI Holdings Sdn Bhd for a cash consideration of RM258,000.
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