{"id":143685,"date":"2018-01-04T02:56:57","date_gmt":"2018-01-04T07:56:57","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=143685"},"modified":"2018-01-04T02:56:57","modified_gmt":"2018-01-04T07:56:57","slug":"ayala-land-raises-stake-in-malaysian-construction-firm","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/04\/ayala-land-raises-stake-in-malaysian-construction-firm\/","title":{"rendered":"Ayala Land raises stake in Malaysian construction firm"},"content":{"rendered":"<p>MANILA &#8212; A wholly-owned subsidiary of property developer Ayala Land Inc. (ALI) has increased its stake in Malaysian development and construction firm MCT Bhd in over half after signing a deal to acquire additional 17.24-percent stake for RM202.5 million (roughly PHP2.49 billion).<\/p>\n<p>ALI told the local bourse that Regent Wise Investments Limited (RWIL) signed a share purchase agreement to buy 230,115,574 MCT shares, bringing its stake in the investment holding to 50.19 percent.<\/p>\n<p>\u201cThe increase in ownership will strengthen ALI\u2019s commitment to enhance MCT\u2019s operations and expand its business further,\u201d it said.<\/p>\n<p>The additional acquisition represents 17.24 percent of MCT\u2019s total outstanding shares.<\/p>\n<p>This requires RWIL to conduct a mandatory take-over offer in accordance with the laws of Malaysia.<\/p>\n<p>A listed company on the main market of Bursa Securities in Malaysia, MCT\u2019s subsidiaries are involved mainly in property development, property management, property investment and construction businesses. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; A wholly-owned subsidiary of property developer Ayala Land Inc. (ALI) has increased its stake in Malaysian development and &hellip;<\/p>\n","protected":false},"author":33,"featured_media":114184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[7899,41675,851,41674,41673],"class_list":["post-143685","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-ayala-land-inc","tag-bursa-secuirities","tag-malaysia","tag-mct-bhd","tag-regent-wise-investments-limited","mauthors-leslie-gatpolintan","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=143685"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/114184"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=143685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=143685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=143685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}