Deal typeCapital Markets
IndustryTransport & Logistics
Client nameMaybulk Berhad
Shipping company Malaysian Bulk Carriers Bhd (MBC) plans to acquire a 23.48 hectares of freehold land in Kapar in Klang, Selangor, for RM165 million to diversify into the industrial property business. MBC has joint ventured with Golden Valley Sdn Bhd for the proposed acquisition.
Upon completion, the group plans to change the name to Maybulk Berhad as it looks to property development as part of its diversification plan, MBC is currently involved in the business of ownership and operation of vessels as well as ship management. The Proposed Acquisition it said is in line with the Group’s aim to venture into the Industrial Property Business as an additional revenue source to reduce the dependence on its existing shipping business.
BDO acted as independent adviser to Maybulk Berhad in relation to a proposed exemption from a mandatory offer obligation.
Upon completion, the group plans to change the name to Maybulk Berhad as it looks to property development as part of its diversification plan, MBC is currently involved in the business of ownership and operation of vessels as well as ship management. The Proposed Acquisition it said is in line with the Group’s aim to venture into the Industrial Property Business as an additional revenue source to reduce the dependence on its existing shipping business.
BDO acted as independent adviser to Maybulk Berhad in relation to a proposed exemption from a mandatory offer obligation.