PETALING JAYA: Sharjah-based Al Batha group's most recent deal where the diversified conglomerate is taking a 22.69% stake in ACE Market-listed Nextnation Communication Bhd raises some questions.
While Nextnation's plans to diversify into property development is not new, the deal struck by Nextnation and Al Batha on Monday in which the former pays for an 11-storey boutique office tower in Bangsar South City, Kuala Lumpur by the issuance of 192 million new shares at 30 sen each to the latter have raised some eyebrows.
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