Mobile-health Network Solutions to Acquire Sarawak AI Data Centers for MYR500m, Issue 65% Stake
Mobile-health Network Solutions will acquire 100% of PP GRID SDN BHD and its Sarawak AI data centers, with Mr. Ling injecting MYR 500 million (US$127 m) for a 65% equity stake. Founders retain majority voting control via Class B shares while MNDR targets US$100 million fundraising for further data center development.
1. Updated Strategic Cooperation MOU
On March 15, 2026, MNDR and Mr. Ling signed a non-binding Strategic Cooperation MOU that replaces the November 2025 framework, granting MNDR 100% acquisition rights to PP GRID SDN BHD and its Sarawak AI data center assets under revised equity swap terms.
2. Equity Swap and Capital Injection
Under the updated terms, Mr. Ling will contribute MYR 500 million (US$127 m) toward data center construction in exchange for a 65% equity stake in MNDR, while MNDR’s founders will retain majority voting control via Class B shares.
3. Funding Requirements and Closing Conditions
MNDR plans to raise at least US$100 million to finance data center development, with completion of the transaction contingent on independent valuation, due diligence, regulatory approvals and execution of a definitive Share Purchase Agreement.