Siab Holdings to acquire Taghill Projects for RM122m

KUALA LUMPUR, July 18 — Siab Holdings Bhd has undertaken the proposed acquisition of two million ordinary shares in Taghill Projects Sdn Bhd, representing 100 per cent of the equity interest, for RM122 million.

In a Bursa Malaysia filing today, the construction company stated that it will be fully satisfied through a combination of a cash payment of RM96 million and RM26 million via the issuance of its shares at an issue price of RM0.13 each. “The proposed acquisition represents a strategic opportunity for the company to further strengthen its remaining order book to approximately RM1.71 billion post-acquisition, given that Siab’s and Taghill’s current unbilled order book stood at RM280.53 million and RM1.43 billion respectively,” it said.

“Barring any unforeseen circumstances and subject to all approvals being obtained, the proposals are expected to be completed by the fourth quarter of this year,” it said.

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