Mudajaya Group Bhd’s indirect wholly owned subsidiary, Xelmont Ltd, is selling its 45% stake 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 proceeds will mainly be used to offset debt owed to MHL, which amounted to HK$244.97 million as at April 30, 2026.
The group added that the remaining balance of HK$10.97 million, along with the related interest, will be settled in cash.
Mudajaya said the disposal allows the group to unlock part of its investment in Real Jade while still retaining a controlling stake in the company. This will enable the group to continue benefiting from any future growth and operational improvements at Real Jade.
