AI Summary
Citaglobal Bhd is acquiring a 12.8% indirect stake in Mutiara Perlis Sdn Bhd, the master developer of the Perlis Maritime Corridor (PMC), for RM40 million. This acquisition positions Citaglobal as a key player in the port and logistics infrastructure industry. The deal involves purchasing a 20% stake in Manjaran Sdn Bhd, which translates to a 12.8% effective equity interest in Mutiara Perlis. Citaglobal's Executive Chairman and President, Tan Sri (Dr.) Mohamad Norza Zakaria, stated that this investment aligns with their vision to become a major player in infrastructure development and energy transition in Malaysia, and enhances their prospects for future EPC contracts related to the PMC.
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