Business Times

BERJAYA Land Bhd has sold 50 million loan stocks to Goldman Sachs, a US investment bank, to raise RM250 million to fund its projects in Vietnam. "The placement will result in a gain of about RM200 million and the net assets per BLand share will increase from RM2.29 to RM2.51," the company told Bursa Malaysia. Under the exercise, BLand's wholly-owned subsidiary Immediate Capital Sdn Bhd has placed out the irredeemable convertible unsecured loan stocks worth RM5 apiece which were bought between July 2002 and October 2007.