PETALING JAYA: Datuk Lee Chong Wei’s 45%-owned Skyload Express Sdn Bhd will dispose of a 2.26-acre leasehold land in Persiaran Dutamas, Kuala Lumpur to Main Market-listed Magma Group Bhd
for RM80mil.
The land, located about eight kms from the Kuala Lumpur city centre, has received approval for two 34-storey towers consisting of service apartments and commercial spaces.
The remaining 55% of Skyload is owned by Empire Solaris Sdn Bhd, which in turn is 80% controlled by Magma’s major shareholder and deputy executive chairman, Datuk Seri Lee Hock Seng.
Magma will pay for the land via RM8mil in cash and the issuance of 120 million new ordinary shares to Skyload, along with 47.71 million redeemable non-convertible preference shares (RPS).
The 120 million shares will be issued at 20.24 sen apiece, while the RPS will be issued at RM1 per share.
