PETALING JAYA: United Bintang Bhd (UBB), via its wholly-owned subsidiary Platinum Manifest Sdn Bhd, has proposed to purchase a 25-storey office building in Georgetown, Penang for a cash consideration of RM15.04mil.
The company, an importer and exporter of used and reconditioned heavy machinery also proposed to diversify its business into property development. UBB also proposed a private placement of up to 16.2 million new ordinary shares of RM1 each to be used for the acquisition.
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