Majuperak to buy 51% of Nexusbase

PETALING JAYA: Majuperak Holdings Bhd (MHB) has announced that it has entered into a share sale agreement (SSA) with Sloane Infinity Asia Pacific Sdn Bhd to purchase 35,561 ordinary Nexusbase Development Sdn Bhd (NDSB) shares for RM12.5mil.

The acquisition represents a 51% equity interest in NDSB.

In a filing with Bursa Malaysia, the company said the proposed acquisition provided the opportunity for MHB to earn future income streams arising from the property development project carried out by NDSB and consolidate its business in that sector. — Bernama