Magna Prima, OCR complete previously announced land transaction

PETALING JAYA (July 24): Magna Prima Bhd and OCR Group Bhd have completed the previously announced land transaction after the conditions for completion under the sale and purchase agreement (SPA) were fulfilled.

In separate filings with Bursa Malaysia on Thursday (July 23), Magna said its indirect wholly owned subsidiary, Magna Ecocity Sdn Bhd, together with its wholly owned subsidiary, Twinicon (M) Sdn Bhd, completed the acquisition on the same day (July 23) after Twinicon received confirmation from OCR Avenue Sdn Bhd that the latter had received the full net consideration together with Twinicon's portion of the outgoings in accordance with the terms and conditions of the SPA.

In a corresponding filing, OCR said its indirect wholly owned subsidiary, OCR Avenue, had received the full net consideration and the outgoings from Twinicon on the same day.

Accordingly, OCR said the proposed disposal was completed on July 23, 2026 pursuant to the terms of the SPA.

The transaction was first announced on March 24, 2026, with subsequent updates released on March 27, 2026 and April 13, 2026.

The latest filings serve as completion notices and disclose no changes to the commercial terms of the transaction previously announced.

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