KUALA LUMPUR, MALAYSIA-Malaysian Resources Corp. and IJM Land Bhd. has planned to merge together to form a new company. The new firm will acquire MRCB and IJM Land through a stock exchange agreement.
The merger agreement is part of a proceeding integration in the property sector in Malaysia. The IJM Land-MRCB merger has a solid balance sheet and the combined shares would create greater liquidity. The deal would make a more liquid property firm, an analyst familiar with the subject said. For the full story, go to Wall Street Journal.
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