Star Media Group seeks stake in plantation company

SMG is expected to realise a net pro forma gain of about RM15.6mil from the property assets disposal.

PETALING JAYA: Star Media Group (SMG) is seeking approval from its shareholders at an EGM to take a 13% substantial stake in plantation company Matang Bhd.

The move by SMG will see the media company selling property assets for RM33mil to Matang, which will see an allotment and issuance of its shares to the media company.