MALAYSIAN Mosaics Bhd is injecting property assets into its listed subsidiary Hap Seng Consolidated Bhd
for RM206.2mil cash. The move will turn Hap Seng into a property firm.
In a statement, Malaysian Mosaics said Hap Seng, which owns plantation businesses, would also buy property assets, quarry and brick manufacturing operations from Gek Poh Sdn Bhd, the ultimate holding company of Malaysian Mosaics, and Hap Seng for RM50.8mil cash.
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