Harvest Miracle Capital Berhad proudly announced the exceptional success of its rights issue, which was oversubscribed by 20.24%, securing the maximum proceeds of RM98.43 million. This resounding investor confidence underscores a significant step in the Group’s strategy to enhance its business competitiveness for sustained growth.

With the RM98.43 million proceeds raised, Harvest Miracle aims to fortify its financial foundation and ensure effective management of its strategic initiatives. A significant portion of the funds is earmarked for the Antara Genting project in the property investment segment and the expansion of the Group’s moneylending business. As of 28 November 2024, the Antara Genting project has reached 80% completion. The Group has also paid RM197.08 million (80%) of the total consideration of RM246.35 million. With the proceeds from this rights issue, amounting to RM49.27 million, the outstanding balance will be fully settled, ensuring the project is paid in full and poised for timely delivery.

Meanwhile, the allocation of RM45.89 million to the moneylending segment will enable the Group to offer financing solutions to a broader range of customers. These include personal financing, working capital, business start-ups, real estate purchases, project financing, equipment financing, and more, with or without collateral. 

In addition, Harvest Miracle is also venturing into the supply chain business through the incorporation of Miracle Nexus Supply Sdn Bhd ("Miracle Nexus") as part of the Group's broader strategic roadmap. This new subsidiary will provide end-to-end supply chain solutions, including sourcing, procurement, warehousing, and last-mile fulfilment, with a particular focus on building materials. With its own clay brick manufacturing business, the Group will be able to create a downstream synergy with the new supply chain operations, strengthening its ability to meet the growing demand for building materials driven by infrastructure projects and private sector developments. These supply chain services will be seamlessly integrated with the Group's moneylending arm, which will offer flexible financing options with extended financing periods. This synergy ensures that property developers and construction companies not only benefit from streamlined logistics but also gain access to critical financial support tailored to their capital needs.

"Miracle Nexus is designed to address the surging demand for high-quality building materials particularly in Johor, our homegrown base, leveraging our expertise and regional insights to optimize our competitive advantages," the company stated. By bridging gaps in the supply chain and financing, Miracle Nexus aims to drive value creation, operational efficiencies, and enhanced market accessibility for its clients.

Strategic initiatives like the Johor-Singapore Special Economic Zone (SEZ) and the RTS Link have cemented Johor’s status as a key economic hub with robust connectivity and significant investment appeal. By 2030, the JS-SEZ is projected to contribute RM117.1 billion annually to Malaysia’s economy and create 20,000 skilled jobs through 100 high-impact projects. Coupled with Johor’s thriving property, construction, and data center sectors, this economic momentum offers immense potential for Miracle Nexus. 

"Capturing a modest share of these industries, Miracle Nexus is positioned to potentially generate an estimated revenue of up to RM5.86 billion, further solidifying its strategic importance within the Group’s portfolio. With tailored solutions, efficient sourcing, and innovative financial options, we aim to empower property developers and other key stakeholders to focus on delivering exceptional projects while we manage the complexities of the supply chain," the company emphasized.

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