Ta Ann revises purchase price of Sarawak land buy
10 Mar 2017, 06:43 pm
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KUALA LUMPUR (March 10): Timber products manufacturer Ta Ann Holdings Bhd has revised the purchase price of its acquisition of Agrogreen Ventures Sdn Bhd to RMRM209.56 million, from RM 211.14 million.
 
In October 2016, the company had signed conditional agreements with several vendors to acquire Agrogreen’s entire stake, in order to expand its landbank in Sarawak.
 
“The financial and legal due diligence exercises pertaining to the proposed acquisition have been completed. Certain adjustments were made for items arising from the due diligence report for unrecorded liabilities,” the group said in a filing to Bursa Malaysia today.
 
The final price has been revised by RM1.59 million, from its original purchase price, it added.
 
Ta Ann’s shares closed 9 sen or 2.41% lower at RM3.64 today, for a market capitalisation of RM1.62 billion.

 

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