The proposed acquisitions total RM77.9mil.
KUALA LUMPUR: Matrix Concepts Holdings Bhd
’s wholly owned subsidiary, MCHB Development (KV) Sdn Bhd, has entered into three separate share sale and purchase agreements for proposed acquisitions totalling RM77.9mil.
In a filing with Bursa Malaysia, Matrix Concepts stated that its unit acquired 625,000 ordinary shares, representing a 50% equity interest in Horizon L&L Sdn Bhd (HLLSB) from four vendors for a cash consideration of RM48.5mil.
The second deal involves the full acquisition of Exoland Property Management Sdn Bhd, comprising 10,000 ordinary shares from five vendors for RM19.4mil in cash.
Additionally, MCHB Development acquired 225,000 ordinary shares, or a 30% equity interest, in Horizon L&L Sdn Bhd from Valour Rock Sdn Bhd for RM10mil. Matrix Concepts said that upon completion of the acquisitions, MCHB Development will effectively hold 70% equity interest in the Horizon L&L group, with all subsidiaries of HLLSB becoming wholly owned.
