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Friday, December 14, 2007

Dubai Ventures buys into Guocoland

KUALA LUMPUR: Dubai Ventures Ltd bought into Guocoland (Malaysia) Bhd, acquiring 74 million shares in the property-based company on Wednesday.

A filing to Bursa Malaysia showed the acquisition of the shares by the Dubai investment group represented a 10.56% stake.

Guocoland, which is controlled by Tan Sri Quek Leng Chan, saw its share price closing at RM3.14 on Wednesday.

The company posted net profit of RM3.36 million on the back of RM36.35 million in revenue for the quarter ended Sept 30, 2007.


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