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Funeral and cemeteries operator
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zhuge_liang
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29-Aug-2007 20:43
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Seatown will resume life as a funeral and cemeteries operator, catering to the rich and middle class, on Sesdaq tomorrow. Its shares, which have been suspended since May 22, '02, will be traded under the name Asia-Pacific Strategic Investments (ASI) following a RTO by Malaysian parties earlier in the year. ASI is developing a 40-hectare site owned by Pribena Construction in Semenyih Hill, just outside Kuala Lumpur, into a memorial park with embalming facilities, memorial service halls, columbaria and non-Muslim cemeteries. While the development and construction works are still ongoing and will be carried out in several phases over 5-8 years, internment is expected to be carried out from the end of this year. ASI also intends to develop Semenyih into a centre of learning and training of professional bereavement care providers. The company then plans to develop and operate similar parks and columbaria throughout Asia, especially in China, Vietnam and Indonesia. It said it is currently in negotiations to acquire and collaborate with an Indonesian party to develop a memorial park in Jakarta and has engaged a consultant for the project. |
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