Bolton ... Aug09

It is considering a bond issuance of up to RM300 million to fund land acquisition as well as the development of existing projects.

With the company's gearing at 30% as of last financial year (March 31, 2009) and about 27% today (2009) and the ability to gear up was there for Bolton.

Bolton was scouting for landbank in the Klang Valley and possibly in Penang where it has existing developments

A bond issuance by the company would not be for refinancing or debt repayment purposes but would fund a combination of developing what land the company already had and to look at acquisition opportunities.