KUALA LUMPUR (March 26): Amanah Raya Development Sdn Bhd is selling its entire 22% stake of Lakehill Resort Development Sdn Bhd to MALAYSIA PACIFIC CORP BHD [] (MPCorp) for RM100.88 million.
MPCorp said on Monday that Amanah Raya Development had exercised its put option to sell the stake to MPCorp’s unit Oriental Pearl City PROPERTIES [] Sdn Bhd. The payment would be made in 60 days.
“Under the circumstances the company and/or Oriental is now at liberty and sole discretion to negotiate with other new strategic partner(s) of their choice,” saud MPCorp.
MPCorp said on Monday that Amanah Raya Development had exercised its put option to sell the stake to MPCorp’s unit Oriental Pearl City PROPERTIES [] Sdn Bhd. The payment would be made in 60 days.
“Under the circumstances the company and/or Oriental is now at liberty and sole discretion to negotiate with other new strategic partner(s) of their choice,” saud MPCorp.
