GuocoLand unit sells stake in Eco World International for $61m

The subsidiary held a 27% stake in Eco World International.

GLL EWI (HK) Limited, a wholly owned subsidiary of GuocoLand Limited, has disposed of its 27% stake or 648,000 ordinary shares in Eco World International to Bursa Malaysia Securities Berhad for $61m.

“The total cash consideration for the transaction was agreed upon on a willing-buyer willing-seller basis, taking into account the current carrying value of the sale shares in the GuocoLand Group’s books amounting to approximately $50m,” GuocoLand said in a stock exchange filing.

“The last traded price of EWI’s ordinary shares on Bursa Malaysia Securities Berhad was RM0.355 per share on 9 May 2024,” GuocoLand added.

Post transaction, EWI ceased to be an associated company of GLL EWI and GuocoLand.

Follow the link for more news on

GuocoLand

divestment

Also Read

What 2025 holds for SREITs

CDLHT acquires Hotel Indigo Exeter and retail units for $33.2m

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

1 day ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2