PRG Holdings to acquire stake in Singapore-based developer

by TMR

PRG Holdings Bhd has inked a non-binding memorandum of understanding (MoU) with Singapore-based Capital World Ltd to acquire a 29.9% equity stake in the company which is undertaking a four million square feet integrated development comprising of a shopping mall, hotel, serviced suites and serviced apartments in Johor Bahru. According to the filing on Monday, both groups will execute the subscription agreement within two months from the date of MoU. The MoU shall be governed by the Laws of Singapore.