MYEG has informed that the earlier MOU signed between its subsidiary MyEG Lodging and JCorp will now be replaced with a sales and purchase agreement for the acquisition of the said parcels of land.

The group updated on Bursa that it has entered into a Sale and Purchase Agreement with JCorp for the acquisition of all pieces of vacant industrial land within the Muar Furniture Park for a purchase consideration of RM12.9 million.

The SPA will supersede the MOU entered on 3 April 2018. MyEL was established to manage centralised lodging for foreign workers.