- IJMLAND & MRCB signed MoU for merger in a RM7.5bill ($2.42bill) deal. No necessity, better off on its own.
- Rumor of govt involvement. Expect MRCB’s participation in the 3,400-acre RRIM land to give it pricing power of RM300psf (Sg Buloh town development).
- However, both companies have no township development track record.
- 30/Dec/10 - announcement: aborted merger.
- IJMLAND should weather the failed merger quite well. They have a RM5.5bill Light Waterfront project spread over 210 acres. Also in a 50:50 JV with KEURO to develop the 2,500-acre Canal City project near Kota Kemuning worth an estimated RM6.3bill.
Showing posts with label IJMLAND. Show all posts
Showing posts with label IJMLAND. Show all posts
Friday, January 7, 2011
IJMLAND & MRCB signed MoU for merger
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