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Hua Yang unit sells 5.66% stake in Magna Prima for RM16.5mil

The Star·09/19/2025 11:09:00
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PETALING JAYA: Hua Yang Bhd's wholly-owned subsidiary, Prisma Pelangi Sdn Bhd (PPSB) has on Sept 17 sold 22.6 million shares or 5.66% equity interest in Magna Prima Bhd for RM16.5mil cash via a direct business transaction.

The buyer was not disclosed. In a filing with Bursa Malaysia, Hua Yang added PPSB still holds 80.3 million ordinary shares or 20.11% stake in Magna Prima (excluding treasury shares).

Hua Yang added the cash raised will be used to partially settle bank borrowings.