Asset-rich Magma Group Berhad (KLSE: 7243) had just made an announcement on getting green light on their fund raising exercise, amounting to a total of RM100.0 million to enhance their balance sheet.
As of now, Magma Group manages a few well established hotels, including Impiana KLCC, Impiana Ipoh, Impiana Senai and WOLO Kuala Lumpur.
So, why the need to raise funds?
Well, the fund raising exercise done (or soon to be done) by Magma Group...

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