Lion Industries gets higher amount of RM697.74mil from disposal of Antara Steel
KUALA LUMPUR: Lion Industries Corporation Bhd (LICB) said the "final adjusted consideration” from the disposal of its unit Antara Steel Mills Sdn Bhd had increased by RM26.15 million to RM697.74 million (US$165.63 million).
Total proceeds had increased due to the different exchange rate used and the date adopted for the closing of Antara’s account, it said in a stock exchange filing to Bursa Malaysia today.
LICB said the final adjusted consideration was based on Antara’s closing account as of the completion date on Dec 10, 2021 while the actual exchange rate was based on US$1 for RM4.215 as at April 7, 2021, compared to the assumed rate of RM4.18 previously.
Concurrently, the utilisation of proceeds set for new investments or the existing business is raised to RM431.10 million from RM404.95 million previously.
It said Singapore’s Esteel Enterprise Pte Ltd had fully paid the final adjusted consideration to Amsteel Mills Sdn Bhd, its 99-per cent subsidiary, for the entire stake in Antara. - Bernama
https://www.thestar.com.my/business/business-news/2022/04/08/lion-industries-gets-higher-amount-of-rm69774mil-from-disposal-of-antara-steel
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
What do I fear?9 hours ago
-
-
-
The Price Of A Thousand Yen11 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Keyboarding Warriors3 days ago
-
-
-
-
Cory Diary : Portfolio updates4 days ago
-
-
-
Weekly Markets Outlook4 days ago
-
-
-
Portfolio Update5 days ago
-
-
-
-
-
-
-
Beware Of Scams6 days ago
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
-
2024 (Portfolio Update)2 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)3 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website4 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-