MYP

MYP: MYP proposed a share sale which will result in a RTO, transforming the third party logistics provider into a property investment company. MYP will issue 854.7m new shares to acquire Grace Shine Pte Ltd and Affreton Pte Ltd, at $0.22/share. The companies are owned by Indonesian property players, which include Jonathan Tahir, husband of the Lippo Group's Mochtar Riady's daughter. Property assets to be acquired include ABI Plaza, MYP Plaza, and three condominium units in Singapore. Post deal, MYP's proforma as at FY14Mar will grow from $0.23 to $0.252 (+9.6%).