Corporate Updates - Bursa Malaysia
2026-02-20
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on Bursa Malaysia listed companies.
Explanation of the corporate events: User Manual
| Date | Company | Event Details | Sector | Event Summary |
|---|---|---|---|---|
| 12 Dec, 2024 | Kerjaya Prospek Property Bhd | Eedeem the outstanding 1.72 billion redeemable convertible preference shares (RCPS) issued in 2019 by the investment vehicle of its controlling shareholder Datuk Tee Eng Seng for RM292.07 million. The redemption at 17 sen per share is to be funded via a combination of RM290 million in bank borrowings and RM2.07 million in internally generated funds. The RCPS, with a five-year tenure and fixed dividend rate of 2% per year, is due for maturity on Jan 10, 2025. The RCPS were part of a RM672.04 million purchase consideration to Javawana in 2019 for various assets owned by the Tee family. All in all, the assets were acquired for RM100 million cash, 196.91 million new shares issued at 17 sen per share, and 3.17 billion RCPS at 17 apiece. Previously, Javawana had converted 1.45 billion RCPS into 290 million Kerjaya Prospek shares. Tee, who is Kerjaya Prospek's executive director, controls 365.85 million shares or a 72.07% stake in Kerjaya Prospek via Javawana. | PROPERTY | Restructuring |