If this deal goes ahead, LBD Engineering, a building contractor, will end up owning around 60% of Hatten Land.
Hatten Land, which is under judicial management, is acquiring a construction business in a reverse-takeover deal worth $24 million.
The developer, known for its Malacca developments, plans to pay for the acquisition of Metrocon by paying its owner, LBD Engineering, some 5.57 billion new shares.
