Retirement News : Seniors : Mulpha makes foray in retirement industry

Mulpha makes foray in retirement industry

Date Added: 28-09-2005

Read about the business forays of MULPHA International Bhd in the excerpt below:

Tuesday September 27, 2005

Malaysia Star - Malaysia

MULPHA International Bhd, which in recent months had been engaged in share buy-back transactions on Bursa Malaysia, intends to make a foray into retirement village industry with approval of a resolution to increase its stake in FKP Ltd of Australia.

Resolutions passed yesterday at an EGM held in Subang Jaya will allow Mulpha to increase its stake in FKP from the current 4.7% to 14.2%. The move will make Mulpha the largest shareholder in FKP within six months. FKP has been aggressively consolidating the retirement home, villages and resorts industry in Australia, and is currently the largest retirement village owner/operator there. 

With the recently announced off-market acquisition of 14 mature retirement villages, comprising nearly 1,300 individual units between Brisbane, the Gold Coast and Adelaide, FKP's group portfolio will reach about 5,300 units across 42 separate villages. 

Read the entire article:

http://biz.thestar.com.my/news/story.asp?file=/2005/9/27/business/12153084&sec=business