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PPB Group Bhd Enters Into Shareholders’ Agreement With Kuok Brothers Sdn Berhad


Monday, 22 Apr 2013 05:41am EDT 

PPB Group Bhd announced that it has on April 22, 2013 entered into a shareholders’ agreement (Shareholder Agreement) with Kuok Brothers Sdn Berhad (KBSB) for the Proposed Subscription. Pursuant to the Shareholder Agreement, KBSB and PPB propose to subscribe for 60% and 40% equity interest respectively in Huge Quest Realty Sdn Bhd (HQR). The Proposed Subscription is proposed to be funded from internally-generated funds. HQR was incorporated in Malaysia on July 25, 2012. The principal activity of HQR is investment holding. HQR is presently a wholly-owned subsidiary of KBSB. The completion of the Proposed Subscription is subject to the completion of the purchase of the Land by SMD, which is targeted to be completed within a period of 12 months from the date of the SPA. Financial terms of the transaction were not mentioned. 

Company Quote

14.4
-0.04 -0.28%
22 Jul 2014