<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 30): Harvest Miracle Capital Bhd (KL:<a href="/askedge/klse/0060" class="ce-stock" target="_blank">HM</a>) is selling its plantation unit for RM51.6 million.</p></div>

<div class=newsTextDataWrapInner><p>The company inked a share sales agreement with Ree Fong Agriculture Sdn Bhd to sell its entire equity interest in Teras Gemumi Sdn Bhd, which owns plantation firm Gemumi Multi Plantation Sdn Bhd, according to a bourse filing on Friday.</p></div>

<div class=newsTextDataWrapInner><p>The sale represents a business portfolio optimisation move, Harvest Miracle said, to enhance long-term shareholder value.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The disposal enables the group to realise a substantial premium over its original investment and the carrying value of Teras Gemumi and its subsidiary, reflecting meaningful capital appreciation within a relatively short holding period,” said Harvest Miracle.</p></div>

<div class=newsTextDataWrapInner><p>The initial cost of investment in Teras Gemumi was RM21.03 million.</p></div>

<div class=newsTextDataWrapInner><p>Harvest Miracle expects a gain of RM15.98 million from the disposal.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Proceeds from the sale will be used for working capital, deployment into its money lending division, and funding potential investment opportunities.</p></div>

<div class=newsTextDataWrapInner><p>The disposal is expected to be completed by the first quarter of this year.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Harvest Miracle ended unchanged at 13.5 sen, valuing the company at RM267.7 million.</p></div>


Harvest Miracle Capital Bhd (KL:HM) is selling its plantation unit for RM51.6 million.

Harvest Miracle to sell plantation unit for RM51.6 mil

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