In a filing with Bursa Malaysia today, MRCB said its indirect subsidiary, Rukun Juang Sdn Bhd (RJSB), had paid the balance sum and fully settled the shareholder advances amounting to RM69.21 million.

“On behalf of MRCB, AmInvestment Bank wishes to announce that RJSB had, on April 20, paid the balance of the purchase consideration for the proposed acquisition amounting to RM1.42 million in cash to the vendor, and fully settled the shareholder advances amounting to RM69.21 million for and on behalf of BJSP.

“Consequently, the proposed acquisition has been completed in accordance with the terms of the share sale agreement on April 20, and BJSP has become an indirect wholly-owned subsidiary of MRCB,” it said.

The acquisition, first announced on Sept 8, 2025, involved MRCB acquiring an 80% equity interest in BJSP and 1.13 billion redeemable preference shares in the company from Tanjung Wibawa Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund Board, for a total purchase consideration of RM1.58 billion in cash.

BJSP, which is principally involved in property development and investment, owns three parcels of leasehold commercial land in Bukit Jalil, Kuala Lumpur, earmarked for future development.

The acquisition allows MRCB to take full control of the development of the Bukit Jalil land, which the group is currently assessing for potential projects, including data centre development, subject to feasibility studies and approvals.