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Article: MALAYSIA'S SUBUR TIASA TO ACQUIRE SARAWAK PLYWOOD FOR US$5.7 MLN.
- Article from:
- AsiaPulse News
- Article date:
- July 16, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, July 16 Asia Pulse - Subur Tiasa Holdings Berhad (KLSE:SUBU) has signed an agreement with a number of parties to acquire the entire equity stake in Sarawak Plywood (M) Sdn. Bhd., comprising 8,289,483 ordinary shares of RM1.00 each, for RM21,765,000 cash (US$5,735,177.87).
The amount was arrived at on a willing-buyer willing-seller basis after taking into consideration the consolidated net tangible assets of Sarawak Plywood of RM3,255,859 based on its latest audited accounts for the year ended 31 December 2000, Commerce International Merchant Bankers Berhad said in a statement on behalf of Subur Tiasa Holdings.
The vendors of Sarawak Plywood ...