Hongxinjianfa (09930) plans to invest 176 million ringgit to acquire 80% equity of TH Tong Heng, strategically positioning in the Southeast Asian market and securing comprehensive control rights.

Zhitong Finance and Economics APP News, Hongxin Jianfa (09930) has announced that on May 8, 2025, the buyer Horizon Construction Development Investment (HongKong) Limited (a wholly-owned subsidiary of the company) and the seller have entered into a share subscription agreement. In accordance with this agreement, the buyer conditionally agrees to subscribe for shares, while the seller conditionally agrees to sell the sales shares, with a indicative total cash consideration (subject to adjustment) of RM 176 million. Upon completion of the transaction envisaged under the share subscription agreement, the target group company will become a subsidiary of the company.