CapitaLand subsidiaries sell entire stake in United Malayan Land

CapitaLand is expected to earn approximately S$5.9 million for the financial year ending 31 December 2012.

Wholly-owned subsidiaries Opal Holdings Pte Ltd and Prime Equities Pte Ltd have collectively sold their total 20.75% equity interest in United Malayan Land Bhd comprising 62,580,625 issued and paid-up ordinary shares of RM1 each to Seleksi Juang Sdn Bhd, a party unrelated to CapitaLand, at RM2.50 for each sale share or at an aggregate cash consideration of RM156,451,562.50 or approximately S$62,594,706.

UML is a public company incorporated in Malaysia listed on the Main Market of Bursa Malaysia Securities Berhad. The principal activities of UML are investment holding and property development.

The sale was transacted by way of Direct Business Transaction on Bursa Malaysia. According to the rules of Bursa Malaysia, settlement will take place on 17 July 2012, being 3 market days after the date of the Direct Business Transaction. Upon completion, UML will cease to be an associated company of CapitaLand.

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