JAG plans RM36.89 million land purchase in Shah Alam
The group also announced a RM2.15 million investment in Australian-listed Metal Bank Ltd through a private placement.
JAG Bhd said it plans to pay RM36.89 million in cash for a freehold industrial site in Shah Alam, supporting an expansion of its waste management operations. The proposed purchase involves 15,000-square-metre land owned by Japan-based Kobe Steel Ltd.
In a Bursa filing, JAG identified its wholly-owned JAG Renewable Energy Sdn Bhd as the buyer of the Hicom Industrial Estate site. The group expects completion by Jan 16, 2027 and said shareholder approval is not required.
JAG intends to build facilities and technical capabilities for waste management and resource recovery in the solar energy, electric vehicle (EV) and data centre industries. It identified equipment from data centres reaching the end of its life, solar photovoltaic panels and EV battery as target waste streams.
The purchase will be funded using bank borrowings alongside internal funds, JAG said. Its cash and bank balances stood at RM10.56 million at end-June 2026, while borrowings were RM65.14 million.
Separately, JAG said wholly-owned JAG Capital Equity Sdn Bhd had signed binding agreements to take up 60 million new Metal Bank Ltd shares for RM2.15 million (A$752,400). The subscription would give it 6.17% of Metal Bank's enlarged share capital.
The placement price of A$0.01254 per share is about 12% above Metal Bank's five-day volume-weighted average share price of A$0.0112 as at Oct 9, 2026. JAG said the investment would add upstream precious-metals exposure alongside the recycling and recovery activities of Jaring Metal Industries Sdn Bhd. Metal Bank holds exploration projects for gold, copper and cobalt in Australia.
