GuocoLand sells its stake in Eco World International for S$61 million
The 648 million shares sold have a carrying value of S$50 million in GuocoLand’s books
A SUBSIDIARY of GuocoLand has sold off its entire stake in Eco World International for S$61 million, in line with plans to focus on its key markets, said the property developer on Friday (May 10). The transaction price was agreed upon on a willing-buyer, willing-seller basis. This was after taking into account that the 648 million shares sold, which make up the group’s entire shareholding interest of 27 per cent in Eco World, have a carrying value of S$50 million in GuocoLand’s : F17 0% books.
This was based on Eco World’s share price of RM0.355 on May 9. The Malaysian property developer is listed on the Bursa Malaysia.
The sale by GLL EWI, GuocoLand’s subsidiary, was through direct business transactions via Bursa Malaysia Securities.
With the divestment, Eco World has ceased to be an associated company of GLL EWI and GuocoLand.
Shares of GuocoLand rose 2 per cent, or S$0.03, to close at S$1.52 on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Canadian dollar gains despite GDP miss as US bond yields ease
Jet supply chain headaches may still be here in 2026: Iata
Opec+ agrees to extend oil output cuts in bid to support prices
Nvidia announces next-generation Rubin AI platform for 2026
Nio delivers record 20,544 vehicles in May, up 233.8% year on year
Saudi Aramco’s US$12 billion stock offer sells out in hours