Barefoot Investor: Media Highlights : SP Setia secures prime land in Bangsar, announces RM1.1bn fund raising, PLUS bins Jelas Ulung's takeover offer, Hing Yiap receives bid from major shareholder, Axis REIT to sell Port Klang complex, QL places out 20.8m new shares at RM5.60 each

SP Setia secures prime land in Bangsar, announces RM1.1bn fund raising
SP Setia announced a fundraising exercise via a proposed placement of 15% of new shares to be done via bookbuilding that could easily raise RM1.1bn. It had received an approval-in-principle from the Prime Minister’s Department to talk over terms for the proposed development of a new integrated health and research complex for the Ministry of Health in Setia Alam. In return, SP Setia’s 50% subsidiary, Sentosa Jitra SB, gets 40 acres of prime land along Jalan Bangsar where the present facilities belonging to the health ministry are located. (Financial Daily) Please see the accompanying report

PLUS bins Jelas Ulung’s takeover offer
PLUS will not consider Jelas Ulung SB’s takeover offer after it failed to meet several conditions set earlier. It is understood that Jelas Ulung was not able to cough up the RM50m deposit and a letter from the financier on its ability to complete the transaction. PLUS has accepted UEM Group and EPF’s joint bid. (The Malaysian Reserve)

Hing Yiap receives bid from major shareholder
Hing Yiap has received an unconditional takeover offer from its largest shareholder at RM1.50 a share. The shareholder, Everest Hectare SB, bought a 50.5% stake in Hing Yiap yesterday from some of the group's directors for RM31.3m or RM1.50 a share. Everest, which is partly owned by Ng Chin Huat, managing director of another garment maker, Asia Brands Corp Bhd, ultimately aims to maintain Hing Yiap's listed status. (BT)

Axis REIT to sell Port Klang complex
Axis REIT hopes to complete the sale of an industrial complex in Port Klang for RM14.5m by the end of June this year. It will make a net gain of RM0.8m from the sale to Freight Management. (Business Times)

QL places out 20.8m new shares at RM5.60 each
QL Resources has completed the bookbuilding exercise for the offering of 20.8m new shares pursuant to its private placement exercise, which is estimated to raise some RM116.6m. The issue price has been fixed at RM5.60 per share, which is a 3% discount to its closing price of RM5.76 yesterday. (StarBiz)


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