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KUALA LUMPUR: MMAG Holdings Bhd is putting off its entire shareholding and warrants in affiliate company MSCM Holdings Bhd for a complete money sum of RM18.84mil.In a submitting with Bursa Malaysia, the neighborhood mentioned it had entered true into a fraction sale agreement to cast off 95.21 million shares or about 30% stake in MSCM Holdings Bhd to Hong Seng Assembly Sdn Bhd for RM18.09mil.Within the same submitting, the neighborhood mentioned it had also entered into an agreement to cast off 75.17 million warrants in MSCM to Landasan Simfoni Sdn Bhd for RM751,680.In line with MMAG, the proceeds from the proposed disposals will seemingly be partially utilised for the acquisition of two parcels of freehold land and constructions at Kawasan Perusahaan Valdor in Pulau Pinang from Dynaciate Neighborhood Bhd.On April 22, MMAG had obtained an extension for the 2nd tranche of payment of RM8.2mil for the acquisition of the RM41mil land.The final proceeds will seemingly be historical for the working capital of constructing the neighborhood’s northern logistics hub, it mentioned.As at 12.30pm, shares in MMAG were up three sen or 7.41% to 43.5 sen on the wait on of three.32 million shares exchanging fingers.

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