KUALA LUMPUR (Dec 22): Mitrajaya Holdings Bhd is acquiring a 60% stake in a plantation works and sand extraction company from its own group managing director and major shareholder Tan Eng Piow, for RM15.9 million. In a stock exchange filing today, Mitrajaya said it will acquire a total of 300,000 shares and 12.28 million preference shares in Premier Discovery Sdn Bhd (PDSB) from Tan. Mitrajaya, which had cash at bank and deposits of RM33.3 million as at Nov 30, expects to satisfy the purchase through internal funds. According to Mitrajaya, the book value of PDSB’s net asset and net profit were RM20.97 million and RM9,046 respectively, for the financial year ended Dec 31, 2019.