Latest news with #BHandico12
The Star
2 days ago
- Business
- The Star
BLand sells 80% stake in loss-making JV firm
PETALING JAYA: Berjaya Land Bhd (BLand) is disposing of its entire 80% stake in joint venture company, Berjaya-Handico12 Co Ltd (BHandico12), to Vietnam-based Dong Thinh Phat Land JSC and Green Hill Construction Investment JSC for RM201.96mil. In a filing with Bursa Malaysia, BLand said the proposed disposal represents an opportunity for the group to realise its investment in BHandico12. 'For the financial year ended June 30, 2024, BHandico12 recorded an audited net loss of RM17.21mil with the audited net liabilities of RM35.62mil.' BLand said BHandico12 is principally involved in the property investment and development. Its main project is an integrated mixed property development project known as Hanoi Garden City situated on an approximately 78-acre piece of land in Thach Ban Ward, Long Bien district in Hanoi, Vietnam. Hanoi Garden City offers a product mix of residential, commercial/retail shops, high-rise apartments, low-rise housing, medical centre/hospital, administrative management building, mall, school and parking lots.
New Straits Times
2 days ago
- Business
- New Straits Times
Berjaya Land's unit to dispose of 80pct equity interest in Vietnam JV for RM201.96mil
KUALA LUMPUR: Berjaya Land Bhd's (BLand) wholly owned subsidiary, Berjaya Leisure (Cayman) Ltd (BLCL), has entered into two capital transfer agreements for the proposed disposal of its entire 80 per cent equity interest in the charter capital of Berjaya-Handico12 Co., Ltd (BHandico12). BHandico12, a BLand joint venture company, was incorporated in Vietnam on Feb 9, 2007, and is principally involved in property investment and development. Its existing charter capital is 1.56 trillion VND (about RM254.28 million), of which BLCL contributed 80 per cent, while the balance 20 per cent was contributed by Viet Duc Investment and Trading Co. Ltd. In a filing with Bursa Malaysia, BLand said the disposal is for a total cash consideration of 1.23 trillion VND (approximately RM201.96 million). "The proposed disposals represent an opportunity for the BLand Group to realise its investment in BHandico12. "It will not have any effect on the issued share capital and substantial shareholders' shareholdings of BLand," it said, adding that the group is expected to record a gain on disposal of about RM5.96 million upon completion of the proposed disposals.
The Star
2 days ago
- Business
- The Star
BLand disposes of stake in loss-making JV company for RM202mil
PETALING JAYA: Berjaya Land Bhd (BLand) is disposing of its entire 80% stake in joint venture company, Berjaya-Handico12 Co Ltd (BHandico12), to Vietnam-based Dong Thinh Phat Land JSC and Green Hill Construction Investment JSC for RM201.96mil. In a filing with Bursa Malaysia, BLand said the proposed disposal represents an opportunity for the group to realise its investment in BHandico12. 'For the financial year ended June 30, 2024, BHandico12 recorded an audited net loss of RM17.21mil with the audited net liabilities of RM35.62mil).' BLand said BHandico12 is principally involved in the property investment and development. Its main project is an integrated mixed property development project known as Hanoi Garden City situated on an approximately 78-acre piece of land in Thach Ban Ward, Long Bien district, Hanoi, Vietnam. Hanoi Garden City offers a product mix of residential, commercial/retail shops, high-rise apartments, low-rise housing, medical centre/hospital, administrative management building, mall, school and parking lots.
