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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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| March 2008 |
- Ulu Estate, Pamol Sabah won the MPOB (Malaysian Palm Oil Board)’s inaugural Best Estate CR Award (2nd placing) for its best practices in social upkeep and welfare in estate. The award was presented by Deputy Minister of Malaysia Datuk Seri Najib Tun Razak to IOI Group Executive Director, Dato’ Lee Yeow Chor.
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| January 2008 |
- IOI Resources (L) Berhad issued USD600 million nominal value Exchangeable Bond due 2013 (“EB 2013”). The EB 2013 is exchangeable into new shares in IOI at an exchange price of RM11.00 per share. The issuance was completed following a book building process which was completed within 1½ hours with subscription rate of 6 times of the original launch size of USD500 million. The issue site was then upsize to USD600 million in view of the over-subscription. The EB 2013 exchange price of RM11.00 represent 30.18% premium over the closing price of RM8.45 prior to the book building prices on 8 Jan 2008 with a yield to put/maturity set at 1.25%
- Tan Sri Dato’ Lee Shin Cheng, the Group Executive Chairman, was voted Best Asia Executive 2007 – Malaysia by Asiamoney in its Dec 07/Jan 08 edition. The voters quoted Tan Sri’s hand-on management style has helped to make IOI the largest and most profitable producer of palm oil in the world.
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| December 2007 |
- IOI Corporation was once again the sole Malaysian company to emerge in the Forbes Asia Fabulous 50 list. The prestigious award was presented by the International Trade and Industries Minister Datuk Seri Rafidah Aziz to IOI Group Executive Chairman, Tan Sri Dato’ Lee Shin Cheng.
- Tuscany at Putrajaya Marriott Hotel bagged four awards of Excellence at the Malaysia International Gourmet Festival 2007. The excellence awards were for The Best Value Menu of the Festival, The Best Malaysia Truly Asia Cuisine Signature Dish, The Best Chef of the Malaysia Truly Asia Cuisine Showcase and The Best Marketed Restaurant.
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| November 2007 |
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The SJK (C) Ladang Harcroft Puchong which was fully financed by IOI Group
was officially opened by the Prime Minister of Malaysia, Dato’ Seri Abdullah
Ahmad Badawi on 30 November 2007. It was part of IOI’s CSR initiatives to build
a Chinese school in its Puchong Jaya township for a good cause of the community.
- IOI made its maiden investment in Indonesia by the completion of joint venture arrangements whereby IOI acquired 33% interest in Indonesian companies that own oil palm plantations measuring approximately 100,000ha and 67% interest in Indonesian companies that own 60,000ha of land planned for oil palm plantation. The joint venture partners for both arrangements are of the same party.
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Corporate Calendar