Wijaya To Acquire Indonesian Companies At Discounted Price

KUALA LUMPUR, Nov 21 (Bernama) -- Wijaya Baru Global Bhd will acquire Suffolk Pte Ltd and Wealth Gate Pte Ltd for RM255.2 million, which represents a discount of 1.2 per cent or RM3.1 million, to 90 per cent of the total market value of the properties valued at approximately RM258.3 million. (US$1=RM3.17) In October, the company said it was buying the two companies with rights to extract timber in Papua Province in Indonesia. The market value has been revised downwards to RM287 million as a result of an update in the rate of extractable timber within the said properties, it said in a filing to Bursa Malaysia on Monday. -- BERNAMA Malaysia