Mudajaya Unit To Sell 45 Pct Stake In Real Jade For RM118.45 Mln To Offset Debt

KUALA LUMPUR, May 28 (Bernama) -- Mudajaya Group Bhd’s indirect wholly owned subsidiary, Xelmont Ltd, is disposing of its 45 per cent equity interest in Real Jade Ltd to Minyi Holdings Ltd (MHL) for HK$234 million (RM118.45 million).

In a filing with Bursa Malaysia, Mudajaya said the disposal consideration will be used to offset debt owed to MHL, which stood at HK$244.97 million as at April 30, 2026.

The Malaysian construction and engineering firm said the remaining balance of HK$10.97 million, together with the related interest, will be settled in cash.

Mudajaya said the proposed disposal presents an opportunity for the group to unlock and monetise part of its investment in Real Jade while retaining a controlling stake in Real Jade, thereby allowing the group to continue participating in any future growth and operational improvements of Real Jade. 

The proposed disposal would also enable the group to optimise its investment exposure in China’s cement market and allow the group to reallocate management focus toward strengthening its existing core businesses. 

Through its subsidiaries, Real Jade is principally involved in the manufacturing, sales and trading of cement in China. 

Real Jade is also involved in the provision of energy conservation and reuse solutions through the installation of energy-efficient and environmentally friendly air-conditioning systems and heating systems for commercial, residential and industrial buildings. 

The proposed disposal is expected to be completed by the third quarter of 2026.

-- BERNAMA