It is learnt that shareholders from SP Setia have made overtures with Eastern and Oriental (E&O) in the recent months. However, SP Setia president and chief operating officer, Tan Sri Liew Kee Sin did not confirm nor deny of SP Setia's interest in buying E&O.
A company official who do not want to be named mentioned "SP Setia is always looking for new acquisitions including land deals and strategic stakes."
When contacted, E&O deputy managing director, Eric Chan said, the management was not in any acquisition talks with any party.
Full news at Business Times
Showing posts with label SP Setia. Show all posts
Showing posts with label SP Setia. Show all posts
Monday, 1 August 2011
Thursday, 28 July 2011
SP Setia Ends China Deal
SP Setia Berhad 's subsidiary, Setia(Hangzhou) Development Co Ltd. and Hang Ju Shen Construction Engineering Ltd. have terminated their joint venture contract for the development project of mix properties in Zhejiang, China.
Stated by SP Setia Bhd, it was due to the conditions set out on the JV had not been met and that the contract was conditional on getting the full approval from China's Ministry of Commerce.It was said that the termination of the contract is not expected to affect the future earnings of the company as it is only a small part of SP Setia's overall business.
SP Setia is a leading property developer in Malaysia known for its spectacular townships to commercial hubs developments. Learn more about SP Setia Bhd.
Stated by SP Setia Bhd, it was due to the conditions set out on the JV had not been met and that the contract was conditional on getting the full approval from China's Ministry of Commerce.It was said that the termination of the contract is not expected to affect the future earnings of the company as it is only a small part of SP Setia's overall business.
SP Setia is a leading property developer in Malaysia known for its spectacular townships to commercial hubs developments. Learn more about SP Setia Bhd.
Subscribe to:
Posts (Atom)