Mah Sing second acquisition
(The Edge, Monday, 1 March 2010 – City & Country – Page, 2 )
The sale and purchase agreement was signed on Feb 22 between Mah Sing’s wholly owned Myvilla Development Sdn Bhd, Cyberview Sdn Bhd (proprietor) and Setia Haruman Sdn Bhd (vendor). This is Mah Sing’s second acquisition this year.
In early February, it proposed to acquire a 19.18-acre tract for RM45.5 million in Hicom Industrial Estate for its iParc2Shah Alam industrial development which has a GDV of RM143 million.
Meanwhile, the group recorded a 1.2% growth y-o-y in profit after tax after minority interest (PATMI) to RM94,3 million for FY2009 ended Dec 31, on the back of revenue of RM7O1.6 million. Its revenue for 4Q2009 went up by 64% to RM249 million from RM152 million in4Q2008.