« Reply #132 on: November 24, 2010, 07:21:03 PM » | 0  Quote |
Really wonder why it took a whole morning for the public to digest, only afternoon it rally... haiz... missed the boat due to hesitation.
Now I fully understand. IJM Corp never thought of diluting its subsidiary company which contributes more than 50% of revenue. Instead, when IJMLand merge with MRCB, (the new company named as Newco)'s earnings still consolidated into IJM Corp. And it is a completely a reverse case as opposed to UEMLand and Sunrise merge. 
http://www.themalaysianinsider.com/business/article/ijm-expected-to-control-new-property-giant/
From strategy point of view, Sunrise is on the losing ground.
Another way of saying, UEMLand gain control of Sunrise with option 1. While Sunrise will only see their portfolio hike 60% in value with second option with no cash redeemable after merge too.IJMLand as the reputable township developer,
gained the controlling shares of Newco,
gained access to Sungai Buloh master plan,
also gain access to EPF funding,
finally gain a high rise developer as new partner.
at the same time, it still taking care of its mother too.
http://biz.thestar.com.my/news/story.asp?file=/2010/11/24/business/7487141&sec=busines
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