News Item: : MTD to take units private
(Category: Publication - The Star)
Posted by Web Master
Tuesday, 26 February 2008
PETALING JAYA: MTD Capital Bhd plans to take units MTD Infraperdana Bhd (MTD Infra) and Metacorp Bhd private, the company told Bursa Malaysia yesterday.
Trading of the shares in all three companies was suspended yesterday until 5pm today to make way for announcement of the full details of the proposals.
Analysts said the latest corporate exercise signalled MTD Capital's intention to further streamline its organisation.
Last year, it completed an exercise that grouped together its engineering and construction businesses under 52.7%-owned MTD ACPI Engineering Bhd.
Currently, MTD Capital owns 71.9% equity interest in MTD Infra, the country's second largest toll concessionaire.
The concessions it holds are for the Kuala Lumpur-Karak Highway, the East Coast Expressway 1, the East-West Link Expressway and the Kuala Lumpur-Seremban Expressway.
The company's market value stood at RM792mil based on last Friday's closing price of 71 sen per share.
Meanwhile, MTD Capital's 75%-owned unit Metacorp is involved in property development, quarrying and solid waste management. At its pre-suspension price of 43.5 sen, the company was valued at RM295mil.
Recent press reports suggested that MTD was finalising talks to secure a RM2.2bil highway project in Sri Lanka.
In a separate announcement yesterday, the company said a subsidiary listed on the Colombo Stock Exchange, MTD Walkers Plc, had acquired the entire equity interest in Walkers Piling Ltd (WPL) for 225 million Sri Lankan rupees, or about RM6.7mil.
WPL’s principal activity is in bored piling of foundations and drilling of water wells.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.9 )
(Category: Publication - The Star)
Posted by Web Master
Tuesday, 26 February 2008
PETALING JAYA: MTD Capital Bhd plans to take units MTD Infraperdana Bhd (MTD Infra) and Metacorp Bhd private, the company told Bursa Malaysia yesterday.
Trading of the shares in all three companies was suspended yesterday until 5pm today to make way for announcement of the full details of the proposals.
Analysts said the latest corporate exercise signalled MTD Capital's intention to further streamline its organisation.
Last year, it completed an exercise that grouped together its engineering and construction businesses under 52.7%-owned MTD ACPI Engineering Bhd.
Currently, MTD Capital owns 71.9% equity interest in MTD Infra, the country's second largest toll concessionaire.
The concessions it holds are for the Kuala Lumpur-Karak Highway, the East Coast Expressway 1, the East-West Link Expressway and the Kuala Lumpur-Seremban Expressway.
The company's market value stood at RM792mil based on last Friday's closing price of 71 sen per share.
Meanwhile, MTD Capital's 75%-owned unit Metacorp is involved in property development, quarrying and solid waste management. At its pre-suspension price of 43.5 sen, the company was valued at RM295mil.
Recent press reports suggested that MTD was finalising talks to secure a RM2.2bil highway project in Sri Lanka.
In a separate announcement yesterday, the company said a subsidiary listed on the Colombo Stock Exchange, MTD Walkers Plc, had acquired the entire equity interest in Walkers Piling Ltd (WPL) for 225 million Sri Lankan rupees, or about RM6.7mil.
WPL’s principal activity is in bored piling of foundations and drilling of water wells.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.9 )