News
Tambun Indah proposes rights issue
20-Jan-2012
PETALING JAYA (Jan 19, 2012): Tambun Indah Land Bhd has proposed a two-for-five rights issue with one free warrant to raise at least RM44.2 million for working capital.
The Penang-based developer said in a statement today that the rights shares will be issued at a minimum indicative price of 50 sen each.
The proceeds will primarily be used for working capital requirements to develop the group's flagship Pearl City township and other new projects in Penang, namely the Straits Garden, the new Juru Industrial Park, the Carissa Villas and the Kelisa Residence.
"Thus far, we have continued to register keen interest from potential property buyers for our development projects in various parts of Penang, including our Pearl City project, which has registered a take-up rate of 81.8% to date," said its managing director Teh Kiak Seng.
TheSunDaily | 19 January 2012
20-Jan-2012
PETALING JAYA (Jan 19, 2012): Tambun Indah Land Bhd has proposed a two-for-five rights issue with one free warrant to raise at least RM44.2 million for working capital.
The Penang-based developer said in a statement today that the rights shares will be issued at a minimum indicative price of 50 sen each.
The proceeds will primarily be used for working capital requirements to develop the group's flagship Pearl City township and other new projects in Penang, namely the Straits Garden, the new Juru Industrial Park, the Carissa Villas and the Kelisa Residence.
"Thus far, we have continued to register keen interest from potential property buyers for our development projects in various parts of Penang, including our Pearl City project, which has registered a take-up rate of 81.8% to date," said its managing director Teh Kiak Seng.
TheSunDaily | 19 January 2012