Asia
Minox International to Acquire Johor Property Developer for MYR15 Million
Minox International (KLSE:MINOX) has signed a conditional agreement to acquire the entire stake in Pembinaan Dragon Point for 15 million ringgit, as the steel valves distributor diversifies into property development, according to a Friday Bursa Malaysia filing.The purchase of the residential property developer will be satisfied via 6.7 million ringgit in cash and 8.3 million ringgit via the issuance of 36 million new shares.Additionally, the vendors have provided a profit guarantee of 2.5 million ringgit a year for the financial years 2027 through 2029.
KLSE:MINOX
