Matang was incorporated as a special purpose vehicle to facilitate the listing of MHB on the ACE Market of Bursa Securities. Through our subsidiaries, Matang Group is involved in the management of plantation estates, sale of FFB and property investment holding.
The history of Matang Group can be traced back to the 1970s’ era when businesses were mostly small family-owned sole proprietorships of partnerships that relied heavily on the involvement of family members. As the Malaysian economy grew, the need for entrepreneurs to break away from traditional Chinese family business practices and began to effect the formation of large corporations in order to withstand increasing business competition. This led to the establishment of Multi-Purpose Holdings Berhad in 1975 and other corporations including MHB amongst others.
Our wholly-owned subsidiary, MHB was incorporated on 3 April 1978 as a public limited company under its present name. MHB began its fund raising exercise in 1981 which successfully raised RM60 million with issuance of 120,000,000 new MHB shares at RM0.50 each upon completion on 15 December 1981.
In May 2016, Matang entered into a scheme of arrangement with MHB whereby subject to the approval of the shareholders of MHB amongst others, the entire issued and paid-up share capital of MHB of RM60,000,002 comprising 120,000,004 MHB shares will be exchanged for 1,680,000,056 new Matang shares on basis of 14 new Matang shares for every one (1) MHB share held (“Exchange of Shares”). In October 2016, the approval of MHB shareholders was obtained for the Exchange of Shares and the exercise Exchange of Shares was duly completed on 14 November 2016.
As part of the listing of Matang shares on ACE Market of Bursa Securities, initial public offering of 130,000,000 new Matang shares (“IPO”) was also undertaken. Upon completion of the IPO on 13 January 2017, the total issued and paid-up capital of Matang increased to RM1,810,000,256.00 comprising 1,810,000,256 Matang shares.
ON 17 JANUARY 2017, 1,810,000,256 MATANG SHARES WERE QUOTED AND LISTED ON ACE MARKET OF BURSA SECURITIES.
THIS ALLOWED OVER 18,000 SHAREHOLDERS OF MHB THE CHANCE TO EASILY ADJUST THEIR SHAREHOLDINGS IN THE GROUP BESIDES GIVING THE PUBLIC THE CHANCE TO PARTAKE IN THE FUTURE GROWTH OF THE BUSINESS OF THE GROUP.
MAJOR MILESTORNES ACHIEVED SINCE LISTING
17 January 2017
Listing and quotation of 1,810,000,256 Matang on ACE Market shares of Bursa Securities
Stock code: 0189
Stock name: MATANG
Submitted bid for the acquisition of 4,219.79 acres leasehold plantation land with plantation and a 60-tonnes/hour palm oil mill, all in Raub Pahang (“Raub Assets”)
Disposal of Raub Assets by vendor put on hold due to injunction filed by shareholders of vendor company
Shareholders’ approval obtained for diversification into Durian Business
Development works for DP1.0 completed
Development works for DP1.0 commenced
Private Placement II completed
- Development works for DP2.0 commenced
- Private Placement I completed
Private Placement III was completed
Development works for DP2.0 completed
SPA for the acquisition of GFSB signed
- SPA for the acquisition of GFSB completed
- Matang’s freehold plantation land hectarage increased to 1,150.38 ha or 2,842.64 acres under two estates in Johor, i.e., Tangkak-Segamat and Yong Peng