Mah Sing may gear up RM1b war chest

Published: 2010/02/22

Mah Sing Group Bhd, a Malaysian developer, may gear up to build a RM1 billion war chest for acquiring land to capitalise on an expected rebound in the Malaysian property market, group managing director Leong Hoy Kum said in a statement today.

“We believe that developers like us with sufficient cash and a healthy balance sheet will continue to grow stronger,” Leong said, in a statement accompanying the company’s fourth-quarter results.

Mah Sing had RM400 million in cash and zero net gearing at the end of December. “Should we gear up to 0.5 times, we can build a war chest of approximately 1 billion ringgit to purchase good prime land that suits our business model,” Leong said in the statement. -- Bloomberg

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Company Name	:	MAH SING GROUP BERHAD
Stock Name	:	MAHSING
Date Announced	:	22/02/2010

Type	:	Announcement
Subject	:	MAH SING GROUP BERHAD (“MAH SING” OR “COMPANY”) PROPOSED BONUS ISSUE OF UP TO 151,283,859 NEW ORDINARY SHARES OF RM0.50 EACH IN MAH SING (“MAH SING SHARE(S)”), TO BE CREDITED AS FULLY PAID-UP, ON THE BASIS OF ONE (1) NEW MAH SING SHARE FOR EVERY FIVE (5) EXISTING MAH SING SHARES HELD, ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“PROPOSED BONUS ISSUE”)
Contents		Further to the announcement dated 28 October 2009, HwangDBS Investment Bank Berhad, on behalf of the Board of Directors of Mah Sing, wishes to announce that the listing application to Bursa Malaysia Securities Berhad for the Proposed Bonus Issue has been submitted today. This announcement is dated 22 February 2010.