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| September 2008 |
- IOI was the sole Malaysian company to emerge in the Forbes Asia Fabulous 50
List for three consecutive years.
- IOI Properties once again won The Edge Top Property Developers Awards 2008 for six
years running.
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| August 2008 |
- IOI Properties Berhad completed its right issue which raised a total
proceeds of RM790 million which are to be utilised for refinancing part of land
cost of Pinnacle Collections.
- IOI Properties completed the renounceable rights issue with the listing of
and quotation for 162,537,250 new ordinary shares of RM0.50 each at an issue
price of RM4.85 each on the Main Board of Bursa Malaysia Securities
Berhad.
- IOI entered into a conditional joint venture agreement to subscribe for the
equity of a joint venture company to be incorporated and named IOI Pelita
Kanowit Sdn Bhd for the purpose of acquiring and developing approximately 7,000
hectares of land situated at Block E (Lesih) Kanowit, Sibu, Sarawak into oil
palm estates.
- IOI acquired the entire issued and paid-up share capital of Laksana Kemas
Sdn Bhd (“LKSB”) for a total cash consideration of RM0.75 million. LKSB is the
beneficial and legal owner of land with a total land area of 566.54 acres and
its principal activity is cultivation of oil palm.
- IOI entered into a conditional sale and purchase agreement to acquire the
entire equity interest in Inverfin Sdn Bhd (“ISB”) for a total cash
consideration of RM586 million. ISB is the owner of Menara Citibank located in
Jalan Ampang, Kuala Lumpur.
- IOI Properties was named in the 2007 KPMG Shareholder Value Award list due
to its strong reputation coupled with persistent efforts in property
development.
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| July 2008 |
- IOI Corporation was the Merit Winner of the inaugural Malaysia Business-CIMA Enterprise Governance Award 2008.
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| June 2008 |
- Dato’ Yeo How, the Group Executive Director for Corporate Finance and Affairs resigned as Director of IOI and IOI Properties after serving the IOI Group for 25 years.
- IOI Properties completed the splitting of its share capital involving the subdivision of every one (1) existing ordinary share of RM1.00 each into two (2) new ordinary share of RM0.50 each.
- IOI was ranked Malaysian 3rd Best Managed Company by Finance Asia in its June 08 edition. In addition, IOI was also ranked 6th in Best Corporate Governance and 5th in Most Committed to a Strong Dividend Policy category among the Malaysian companies.
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| May 2008 |
- Multi Wealth (Singapore) Pte Ltd, a wholly-owned subsidiary of IOI Properties, subscribed for a 53% interest in Mergui Development Pte Ltd pursuant to a joint venture arrangement involving Kim Seng Heng Realty Limited (35%), a Singaporean public listed company and LBH Pte Ltd (12%), a Singaporean private limited company. The purpose for the joint venture is for the redevelopment of a freehold land in Singapore measuring 1.7 acres into high rise condominium.
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| April 2008 |
- IOI Properties (Singapore) Pte Ltd, in a 65% - 35% joint venture with Ho Bee Investment Limited completed the acquisition of 5.3 acre 99-year leasehold land in Sentosa Cove of Sentosa Island, Singapore known as “Pinnacle Collections” for a total cash consideration of SGD1,097,499,999. This acquisition was completed pursuant to the successful tender by the joint venture submitted in Dec 2007. Pinnacle Collections is the last piece of condominium land parcel offerred for tender by Sentosa Development Corporation, a Singaporean statutory body. The Pinnacle Collections is one of the two condominium parcels which flanks the entrance of the marina leading into Sentosa Cove. It is adjacent to Seaview Collection (now known as “Seascape”) which was acquired by another IOI Properties Berhad – Ho Bee joint venture in March 2007. The site is slated to have a condominium of up to 20 stories, the tallest building within Sentosa Cove and the maximum number of units allowed in the development i.e. 357 units.
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Corporate Calendar