PETALING JAYA: Berjaya Property Bhd has entered into a conditional share subscription agreement with Manjaran Sdn Bhd for the proposed subscription of 2.32 million new ordinary shares in the latter, representing 29% of its enlarged issued share capital, for RM58mil.
In a filing, Berjaya Property said Manjaran is involved in the ongoing development of the Perlis Maritime Corridor (PMC), a master development of an integrated logistics hub in Perlis comprising the Perlis Inland Port, Perlis Sanglang Port and Perlis Power Hub.
It said this offers the Berjaya Property Group an opportunity to secure an interest in the PMC project and to venture into the port, logistics and energy sectors.
It said the PMC is intended to become the primary northern gateway for regional trade by integrating deep-water maritime facilities with extensive rail networks.
