KUALA LUMPUR: Harvest Miracle Capital Bhd
has entered into a shares sales agreement (SSA) to dispose of its entire equity interest in Teras Gemumi Sdn Bhd for RM51.6mil cash.
In a filing with Bursa Malaysia, the IT and ICT-related product trader said it had entered into a share sale agreement with Ree Fong Agriculture to dispose of its entire 2.22 mil shares in Teras Gemumi, an investment holding company whose key asset is an oil palm plantation operator.
“The transaction provides Harvest Miracle with the opportunity to crystallise the value of this investment at an attractive level, consistent with the group’s commitment to disciplined capital management,” it said.
The estimated gain on the proposed disposal is RM15.97mil.
The group intends to redeploy the proceeds towards working capital, its money-lending business and potential new investments.
The transaction is expected to be completed by the first quarter of 2026, subject to the fulfilment of conditions precedent.
