30.04.2014 - Khazanah buys 8pct stake in Philippines' mass housing developer for RM215mln
Khazanah Nasional Bhd has agreed to be a cornerstone investor in Philippine-listed mass housing developer 8990 Holdings Inc, paying 2.93bil pesos (RM215mil) for an 8% stake. This is its first investment into a Filipino company. The sovereign wealth fund said it had signed a cornerstone investment agreement, via special purpose vehicle Pasir Salak Investments Ltd, for 8990ís upcoming follow-on share offering. According to Khazanah, 8990 Holdings caters to the low-income group with homes priced between RM33,000 and RM92,000 in districts such as Cebu, Davao, Iloilo, Cavite and Pampanga...............................................Full Article: Source
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