outbrain
Close  

ALI to boost stake in Malaysian firm

01:26 PM May 12, 2015

PROPERTY giant Ayala Land Inc. plans to acquire a more significant stake in MCT Bhd, a publicly listed property developer in Malaysia.

In a disclosure to the Philippine Stock Exchange on Tuesday, ALI said its wholly owned subsidiary Regent Wise Investments Limited had recently entered into call option agreements to raise its interest in MCT to 32.95 percent from 9.16 percent. The call options are exercisable for one month beginning October 7, 2015.

ADVERTISEMENT

The call option agreements were signed with the two founders and majority shareholders of MCT, Barry Goh Ming Choon and Tong Seech Wi, the disclosure said.

“The signing of the agreement affirms ALI’s confidence in its partnership with MCT and the synergies that will benefit both companies,” ALI said.

FEATURED STORIES

MCT began operations in 1999 as modular construction technology company, a builder specializing in construction, civil engineering and mechanical and electrical works through the modular construction technique. MCT Consortium subsequently ventured into property development in 2004. It has become an integrated property developer supported by in-house capabilities including development planning, architectural and engineering design, quantity surveying and procurement, interior design, project management and construction.

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: ALI, Ayala Land, MCT
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.