PETALING JAYA: Seal Incorporated Bhd
(SIB) is acquiring a 20% stake in business support services and real estate activities firm Mutiara Waterfront Habitats Sdn Bhd (MWHSB), from Biopolis Group Sdn Bhd for RM15mil.
In a filing with Bursa Malaysia, SIB said MWHSB had entered into a reclamation agreement with the Penang Development Corp in November 2020, granting MWHSB the rights to undertake and complete the reclamation of approximately 31.50 acres of gross area in Persiaran Bayan Mutiara, Penang.
“The proposed acquisition enables Seal Group to obtain full ownership and control of MWHSB, together with the developer land measuring approximately 9.15 acres upon completion of the reclamation project,” it said.
