Magna Prima Berhad entered into a Sale and Purchase Agreement to acquire 30% stake in Magna Ecocity Sdn. Bhd. from Lee Shu Shun for MYR 45.6 million on August 22, 2023. The deal will be entirely financed by bank borrowings of Magna Prima Berhad. The Proposed Acquisition is expected to be completed in three months from the date of the Agreement.

Magna Prima Berhad completed the acquisition of 30% stake in Magna Ecocity Sdn. Bhd. from Lee Shu Shun for MYR 45.6 million on November 4, 2023.