Berjaya Property Berhad has proposed to subscribe for a 29% stake in Manjaran Sdn Bhd for RM58 million, marking the company’s entry into the port, logistics and energy sectors.
The group said it had on June 29, 2026 entered into a conditional share subscription agreement with Manjaran to subscribe for 2.32 million new ordinary shares in Manjaran.
The subscription will represent a 29% stake in Manjaran’s enlarged issued share capital upon completion.
The company also entered into a shareholders’ agreement with Dedap Rimbun Sdn Bhd, Citaglobal Berhad and Manjaran to govern shareholders’ rights, obligations and the management of Manjaran’s business.
Under the proposed subscription, RJaya Property will satisfy the RM58 million consideration through the issuance of RM57.9 million worth of new RJaya Property shares and RM100,000 in cash.
The share portion involves the issuance of 206.79 million new RJaya Property shares at an issue price of RM0.28 each.
Upon completion, Manjaran will hold approximately 4.06% of RJaya Property’s enlarged issued share capital.
Manjaran is principally an investment holding company, while its 80%-owned subsidiary, Mutiara Perlis Sdn Bhd, is involved in the development of the Perlis Maritime Corridor (PMC).
The PMC is envisioned as an integrated logistics hub comprising the Perlis Inland Port (PIP), Perlis Sanglang Port (PSP) and Perlis Power Hub (PPH).
