PETALING JAYA: Hua Yang Bhd told Bursa Malaysia that it has acquired 1.32 million shares of RM1 each in Sunny Mode Sdn Bhd from Nestin Sdn Bhd, representing 40% of the issued and paid up of the latter, for RM3mil.
Sunny, a property development company, will become a wholly-owned subsidiary of Hua Yang after the proposed acquisition.
Sunny owns a vacant leasehold land measuring 28.5 acres located near Seremban, Negri Sembilan. The lease on the land is for 99 years expiring on June 5, 2107.
By The Star
Wednesday, April 18, 2012
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