Mobile-health Network Solutions Acquires PPG for US$1.5M to Secure 25 MW Kuching Data Center
Mobile-health Network Solutions agreed on March 16, 2026 to acquire 100% of PP Grid Sdn. Bhd. for US$1.5 million in convertible deposit consideration. PPG holds at least 96.5% equity in the Kuching land entity designated for a 25 MW AI-optimized data center, subject to permits and share transfer conditions.
1. Definitive Sale and Purchase Agreement
On March 16, 2026, Mobile-health Network Solutions executed a definitive SPA to acquire 100% of PP Grid Sdn. Bhd. for US$1.5 million, converting the refundable deposit from the November 2025 MOU into purchase consideration.
2. Kuching Data Center Asset
PPG will serve as the primary holding vehicle for at least 96.5% equity in IRIX Properties Sdn. Bhd., which owns Lot 728, Block 3, Salak Land District in Kuching, earmarked for a 25 MW AI-optimized data center pending AI data center permits and foreign ownership clearances.
3. Integration and Future Plans
The agreement includes a 12-month post-completion assistance period from Dato' Stanley Ling, a clawback mechanism for warranties, and envisages listing the Cayman Islands SPV on a recognized exchange to fund further AI data center infrastructure development.