Magna Prima unit to buy Ibsul for RM3.5m

PROPERTY developer Magna Prima Bhd said its wholly-owned unit will buy Ibsul Development Sdn Bhd for RM3.5 million.

It told Bursa Malaysia that its unit, Winicon (M) Sdn Bhd, has entered into a deal with Datuk Ahmad Shafee Sabaruddin and Mohd Sabki Razali to buy 250,002 shares.

Earlier this month, Ibsul Development bought a piece of land located in Bandar Shah Alam for RM18.5 million.

By Business Times