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Article: AMDB to get asset boost
- Article from:
- New Straits Times
- Article date:
- October 18, 2008
- Author:
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Chris Prasad
New Straits Times
10-18-2008
AMDB to get asset boost
Byline: Chris Prasad
Edition: Main/Lifestyle
Section: Property
AMDB Bhd will get a much needed shot in the arm when its parent Amcorp Group Bhd (Amcorp) injects four property companies into its stable of assets.
As part of the group's reorganisation, a debt-to-equity swap exercise will see AMDB own a 60 per cent interest in HDC-Amcorp JV Sdn Bhd as well as the entire stakes in Amcorp Prima Realty Sdn Bhd, Regal Genius Sdn Bhd and Distrepark Sdn Bhd.
AMDB will pay RM159.72 million in cash and new shares for its interest in the latter three companies, which will enable them to settle inter-company loans owed. For its stake in ...