HLA buys building from PJ City

Posted on | April 30, 2008

By THE STAR

KUALA LUMPUR: Hong Leong Assurance Bhd (HLA) has entered into a sale and purchase agreement with PJ City Development Sdn Bhd for the proposed acquisition of a six-storey commercial building for RM75.698mil.

Hong Leong Financial Group Bhd, the parent company of HLA, told Bursa Malaysia the commercial building was to be erected on leasehold land measuring about 16.6 acres in Petaling Jaya.

“The property is targeted to be fully completed by first quarter of 2009,” it said. – Bernama

KUALA LUMPUR: Online advertising solutions provider, Innity Corp Bhd, en route to listing on the Mesdaq market by mid-year, expects to raise RM9.35mil from the initial public offering (IPO).

In a statement, Innity said the proceeds would be used for regional expansion, research and development, marketing and working capital.

Group chairman Phang Chee Leong said the company planned to use part of the funds raised to set up new regional offices in high-growth locations within Asia..

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