Malakoff gets nod for Alam Flora stake buy

Malakoff chairman Datuk Hasni Harun said with the country

KUALA LUMPUR: Malakoff Corp Bhd shareholders have approved the company’s RM944.61mil purchase of 97.37% equity interest in Alam Flora Sdn Bhd, which entails a diversification into environmental-related services.

In a statement, the independent water and power producer said the acquisition was made through its wholly-owned subsidiary, Tunas Pancar Sdn Bhd (TPSB), pursuant to a conditional share sale agreement with DRB-Hicom Bhd’s wholly-owned subsidiary Hicom Holdings Bhd.