UEM Land to Buy Inch Kenneth's Land in Bangi

It must be very cold in London. Bobo is interested in Democracy.

UEM Land announced today that it has offered to buy 463.51 acres of Inch Kenneth's Land in Bangi (2 parcels), Selangor for a cash consideration of Rm 268.50 millions (Rm 13.30 per sq ft.). For the adjacent third parcel of land of 136.49 acres, UEM land is to be given the first right of refusal to participate in the development or to purchase the land.

The Rm 268.50 millions cash consideration divided by 420 millions Inch Kenneth shares equal to 64 sens per share. If the third parcel can be disposed of at the same rate of Rm 13.30 per sq. ft for cash, the cash per share will be about 83 sens.

Inch Kenneth has another higher value piece of land in Kajang, the area is about 350 acres ready for development. This piece of land can easily give Inch Kenneth another 50 sens per share.



The wave count for Inch Kenneth is as shown above, the question here is how high this current wave 5 can go.