MRCB to sell 51% stake in Nu Sentral for RM120m

The Nu Sentral shopping mall in Kuala Lumpur. Nu Sentral’s principal activity is operating the mall and property management.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) intends to sell its entire 51% equity stake in Nu Sentral Sdn Bhd to Pelaburan Hartanah Bhd (PHB) for RM119.77mil.

MRCB, in a filing with Bursa Malaysia yesterday, said it had entered into a share sale agreement with PHB to dispose its 51% equity interest in Nu Sentral, comprising 10.2 million ordinary shares of RM1 each and 91.8 million redeemable non-convertible preference shares of one sen each, to PHB.