You can read about the news here:
- http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_84F219799804932B48257ADB0020FBFD/$file/RowsleyLtd.Announcement_21.12.2012.pdf?openelement
- http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_93D67C6962F8B30548257ADB001CF5C4/$file/RowsleyLtd.MediaRelease_21.12.2012.pdf?openelement
They are acquiring a land size of 9.23 hectares = 92,930 square metres = almost 1000 4-Room BTO Flats' size!
Besides the land, Rowsley is also collaborating with RSP Architects & Planning (http://www.rsp.com.sg/). A check on their projects really made my eyes glare BIG BIG. They are master planners and designers of soooo many big projects like Ion Orchard, Plaza Sing new extension, Jcube and Pinnacle@Duxton etc... You can check it out yourself..
Best of all, i like the concept below:
The Land, which is located at Bandar Johor Bahru, Daerah Johor Bahru, Negeri Johor, is within Flagship A of the Iskandar development region, Johor Bahru, Malaysia. The Land is located on a waterfront site just a few hundred metres from Johor's new customs, immigration and quarantine facility, making it highly convenient for Singaporeans due to its proximity to Singapore.
The Land is to be developed into an integrated mixed-use township centering on a major shopping, entertainment and residential complex. It also comprises of hotel, commercial and office developments. The Land measuring approximately 9.23 hectares is expected to yield a
gross floor area of no less than 10 million square feet.
The adjacent medical hub to be jointly developed by Thomson Medical Pte. Ltd. and Vantage will complement the mixed-use township and enhance the overall attractiveness of the development.
I have done a search on google maps and see that Bandar is really close to Singapore causeway. A integrated mixed-use sounds like a whole business park formation to me which means ka-ching ka-ching!
Be sure to read about the Rationale of Acquisitions and Bonus issue of warrants at $0.18 as well..
The Directors of the Company believe that the Acquisitions are in the best interests of the Company. The Acquisitions provide the Company the opportunity to participate in the growth of the Iskandar Development region in Johor Bahru, Malaysia and transform the Group into a major real estate player with complete multi-disciplinary design capabilities and expertise.
The RSP Acquisition and the Land Acquisition are to be completed concurrently and are inter-conditional. The Directors believe that the award-winning expertise and complete suite of property services of RSP combined with the development potential of the prime Land will provide the Group with the platform, synergy and scale it needs to transform into a major real estate player in the Iskandar development region. The Acquisitions will increase the market capitalisation of the Company significantly and is expected to raise the profile of the Company and generate investors’ interest in the Company.
If the Definitive Agreements are entered into and the Acquisitions materialise, the Directors are proposing the Bonus Issue to reward existing Shareholders and to raise funds for the Group in the future. The Directors believe that the Bonus Issue will provide Shareholders with the opportunity to increase their equity participation in the Company, and potentially increase the Company’s capital base and strengthen its balance sheet. Based on the Company's issued and paid-up share capital of 989,301,265 Shares as at the date of this announcement, the Bonus Issue will comprise 1,978,602,530 Warrants. Assuming all the Warrants issued pursuant to the Bonus Issue are exercised, the Company will receive gross proceeds of approximately S$356.1 million. The Company intends to use the proceeds arising from the exercise of the Warrants for future working capital and expansion plans.
On the downside, Rowsley still has a long way before the acquisitions are completed and the seeds have to be sowed for us shareholders to reap the rewards.
Nevertheless, it may turn out to be another Yoma... you will never know right? ^_*
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