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Friday, August 20, 2010

Hua Yang to raise up to RM100mil

KUALA LUMPUR: Property developer Hua Yang Bhd is to undertake a fundraising exercise next year to raise between RM50mil and RM100mil which will be used for land acquisition.

“We are exploring a few options such as a bond or rights issuance,” chief operating officer Ho Wen Yan said after its AGM yesterday. (Ho Wen Yan succeeds his uncle Ho Mook Leong as CEO today, according to an announcement to Bursa.)

At present, Hua Yang’s gearing level was 0.3 times and its financial position remained comfortable.

By Bernama

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