Mitrajaya Holdings Bhd is acquiring a 60% stake in a plantation works and sand extraction company from its own group managing director and major shareholder Tan Eng Piow, for RM15.9 million. The group said it will acquire a total of 300,000 shares and 12.28 million preference shares in Premier Discovery Sdn Bhd from Tan.
Mitrajaya, which had cash at bank and deposits of RM33.3 million as at Nov 30, expects to satisfy the purchase through internal funds.
This acquisition is not really good for mitra, the land in that area only good for plantation, hardly any development over the passed twenty years. Likely to help the big boss from his bad venture. Shit.......... Hope the board of directors reject it.
Construction and development company goes to plant durian or eco tourism..... Did you smell shit? Buy from big boss's personal investment at a price that no big discount.... Did you smell shit?
Haha ha... Construction is moving a bit now... Most construction counters are recovering, chart sure looks good. Not only for mitra, just the whole construction market. If the board of directors approve this deal, I will leave mitra for sure. No point staying if shareholders interest is not priority of board or directors.
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Posted by RPH02 > 2020-11-16 14:53 | Report Abuse
Cooking up 0.31 see new paper got good new this counter