MUI Properties Now Owns 40.73pct Of Australian Gold Miner

MUI Properties Bhd wholly-owned Cesuco Trading Ltd (CTL) will convert an A$1.5 million secured convertible note in an Australian gold exploration company into ordinary shares.

In its filing with Bursa Malaysia, MUI Properties said CTL, its Hong Kong-based investment company, had informed Nex Metals Explorations Ltd of its decision on the conversion.

MUI group chairman and chief executive officer Andrew Khoo said it was timely to invest more in the gold exploration industry in Australia.