Citaglobal to buy 12.8% stake in PMC developer for RM40mil

Mutiara Perlis Sdn Bhd group executive chairman Datuk Shabaruddin Ibrahim (left) and Citaglobal Bhd executive chairman & president Tan Sri Mohamad Norza Zakaria (right).

KUALA LUMPUR: Citaglobal Bhd has proposed a RM40mil acquisition of a 12.8% indirect stake in Mutiara Perlis Sdn Bhd, the master developer of the RM27.8bil Perlis Maritime Corridor (PMC).

In a statement, the diversified group said the deal positions Citaglobal as a key player in the port infrastructure and logistics industry, while strengthening its presence within the economic corridor.