Kuala lumpur: Malaysian Resources Corporation Bhd (MRCB) has completed its proposed acquisition of Bukit Jalil Sentral Property Sdn Bhd (BJSP) after settling the remaining purchase consideration of RM1.42 billion in cash.

According to BERNAMA News Agency, MRCB, in a filing with Bursa Malaysia, stated that its indirect subsidiary, Rukun Juang Sdn Bhd (RJSB), had paid the balance sum and fully settled the shareholder advances amounting to RM69.21 million. The transaction was finalized on April 20, 2026.

MRCB reported that AmInvestment Bank, on behalf of the corporation, announced RJSB's payment of the balance for the proposed acquisition amounting to RM1.42 billion in cash to the vendor, alongside the full settlement of shareholder advances totaling RM69.21 million for BJSP. This transaction marks the completion of the acquisition in line with the terms of the share sale agreement, making BJSP an indirect wholly-owned subsidiary of MRCB.

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

BJSP is primarily engaged in property development and investment and owns three parcels of leasehold commercial land in Bukit Jalil, Kuala Lumpur, designated for future development. The acquisition enables MRCB to assume full control of the development of the Bukit Jalil land. The group is currently evaluating potential projects, including data centre development, subject to feasibility studies and necessary approvals.