KLSE:PGLOBE

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Paragon Globe Unit to Acquire Land in Johor, Malaysia for MYR127 Million

Paragon Globe (KLSE:PGLOBE) unit PGB Gardens plans to acquire a 753/1,000 beneficial interest in a 103.9-hectare freehold land in Kulai, Johor, Malaysia, for 127.3 million ringgit in cash, according to a Tuesday Malaysian bourse filing.The company intends to develop the land into an integrated industrial park featuring factory units, commercial space and a workers' hostel.The proposed acquisition, subject to shareholder and other approvals, is expected to be completed in the second half of 2027.The deal will be funded through a mix of bank borrowings and internal funds, it said.

KLSE:PGLOBE

Asia Markets6d ago

Malaysian Shares Rebound Ahead of Bank Negara's Policy Rate Decision; Kanger International Soars 50%

Malaysian shares ended in the green on Wednesday, ahead of central bank's overnight policy rate decision. Investor sentiment turned positive despite a broadly negative regional performance.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 0.68 points to end 0.04% higher at 1,683.61.Bank Negara is widely expected to keep its overnight policy rate (OPR) unchanged at 2.75% on Thursday, with economists surveyed by Bloomberg and Reuters forecasting no change.In corporate news, shares of Kanger International (KLSE:KANGER) surged 50% on close today after it priced its private placement shares at 0.0244 apiece.Paragon Globe (KLSE:PGLOBE) unit Paragon Globe Properties completed the acquisition of three land parcels in Johor, Malaysia, for 11.5 million ringgit in cash. Shares ended flat on Wednesday.

FTSE Bursa Malaysia KLCIKLSE:KANGERKLSE:PGLOBE

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