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Friday, January 15, 2010

MK Land plans RM150m rights issue

PROPERTY developer MK Land Holdings Bhd plans to raise some RM150 million from a rights issue of equity-linked instruments.

Hong Leong Investment Bank Bhd told Bursa Malaysia that the proceeds will be used to partly repay bank borrowings and for working capital.

A detailed announcement is expected to be made once the terms of the rights issue have been finalised.

By Business Times

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