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Malaysian property firms to team up

Posted on 23 November 2010

From WSJ: IJM Land Bhd. and Malaysian Resources Corp. plan to merge into a new company in a bid to become the second-largest property group in Malaysia, a person familiar with the matter said. The new company will buy IJM Land and MRCB through a share-swap arrangement. “Details are likely be announced Tuesday,” the person said.
The planned merger is part of a continuing consolidation in Malaysia’s property sector. UEM Land Bhd. this month proposed buying the entire capital of Sunrise Bhd. to create the biggest property group in Malaysia with a market capitalization of more than 9 billion ringgit ($2.89 billion)……………………………………….Full Article: Source

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