Malaysia's Supreme Head of State Ibrahim Iskandar bought some of the shares in the local mining company Southern Alliance Mining Ltd. The company said in a statement that the transaction amount was S$6.1 million. The acquisition coincides with the expansion of Singapore-listed iron ore mining company Southern Alliance Mining into the Malaysian rare earth sector. The company is also developing a project in Johor, the home state of the Supreme Head of State. Ibrahim bought 2.25% of the company's issued shares, at S$0.425 per share, from the company's general manager, Pek Kok Sam, a nearly 12% premium over Monday's closing price of S$0.380. The company said in a statement issued on Monday evening that the company was not a participant in the deal and did not receive any revenue from it.

Malaysia's Supreme Head of State Ibrahim Iskandar bought some of the shares in the local mining company Southern Alliance Mining Ltd. The company said in a statement that the transaction amount was S$6.1 million. The acquisition coincides with the expansion of Singapore-listed iron ore mining company Southern Alliance Mining into the Malaysian rare earth sector. The company is also developing a project in Johor, the home state of the Supreme Head of State. Ibrahim bought 2.25% of the company's issued shares, at S$0.425 per share, from the company's general manager, Pek Kok Sam, a nearly 12% premium over Monday's closing price of S$0.380. The company said in a statement issued on Monday evening that the company was not a participant in the deal and did not receive any revenue from it.