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    Sime Darby acquires shareholding in Jaya

    News // October 29, 2004
    The Board of Directors of Jaya Holdings Limited has announced that it has been informed by five major shareholders of the company, Eka Tjandranegara, Pang Yoke Min, Khong Lai Cheong, Chan Mun Lye and Low Cheng Lum, that Sime Darby Eastern Limited has entered into a Share Purchase Agreement to acquire in aggregate 223,019,640 ordinary shares of S$0.10 each representing approximately 29.9 per cent of the issued share capital of the Company ("the Acquisition").

    The Purchaser is a wholly-owned subsidiary of Sime Darby Berhad, and is incorporated in Singapore as an investment holding company, holding mainly the Sime Darby Group's Singapore-based businesses.

    Following completion of the acquisition, the purchaser will become the largest shareholder in the company while the vendors will together continue to own an 18.96 per cent interest in the Company.

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