KUALA LUMPUR (March 28): Bandar Raya Development Bhd will go ahead with the proposed disposal of BR Property Holdings Sdn Bhd, CapSquare Retail Centre and Permas Jusco Mall by a tender exercise
It said on Wednesday that at its board meeting on Tuesday that while Ambang Sehati Sdn Bhd, which was “still evaluating its plan to increase its stake in the company, which may or may not result in a general offer, has to-date been unable to confirm to the board its decision to proceed with this exercise”.
Bandar Raya said it was working with its legal and financial advisers namely Messrs Lee Hishammuddin Allen & Gledhill and CIMB Investment Bank Bhd to assist in implementing the proposed disposal.
It said on Wednesday that at its board meeting on Tuesday that while Ambang Sehati Sdn Bhd, which was “still evaluating its plan to increase its stake in the company, which may or may not result in a general offer, has to-date been unable to confirm to the board its decision to proceed with this exercise”.
Bandar Raya said it was working with its legal and financial advisers namely Messrs Lee Hishammuddin Allen & Gledhill and CIMB Investment Bank Bhd to assist in implementing the proposed disposal.
