SEACERA UNIT BUYING DUTA NILAI FOR RM165.1M

KUALA LUMPUR: Seacera Group Bhd’s unit, Seacera Properties Sdn Bhd, is acquiring 1.5 million shares of RM1 each in Duta Nilai Holdings Sdn Bhd for RM165.1 million. Duta Nilai is the holding company of Duta Skyline Sdn Bhd, which owns 101.27ha of land in Semenyih, Selangor. Seacera Properties entered into a sale and purchase agreement with Ismail Othman and Zainab Mansor yesterday. The RM165.1 million will be satisfied partly via the issuance of 90 million new shares of RM1 each in Seacera and the rest via a deferred cash payment of RM75.1 million. The deal will enable it to speed up its property development activity, Seacera said in its filing with Bursa Malaysia. – Bernama