Pos Malaysia to acquire land and shares from DRB-Hicom for RM818.35 million

Pos Malaysia to acquire land and shares from DRB-Hicom for RM818.35 million

KUALA LUMPUR, March 14 — Pos Malaysia Bhd has proposed to acquire shares and a parcel of land from DRB-Hicom Bhd for RM818.35 million.

In a filing to Bursa Malaysia Monday, Pos Malaysia said the proposed acquisition involves the entire issued and paid-up capital of KL Airport Services Sdn Bhd (KLAS), a wholly-owned subsidiary of DRB-Hicom, for RM749.35 million.

It also proposes to acquire 4.01 hectares of freehold industrial land from Hicom Lindungan Sdn Bhd, an indirect wholly-owned subsidiary of DRB-Hicom Shah Alam, Selangor, for RM69 million.

The proposed KLAS acquisition would allow Pos Malaysia and its subsidiaries to expand their services, while the proposed land acquisition is to be developed into a warehouse as part of the future integrated logistics value chain of Pos Group.

The land is strategically located, being in close proximity to Port Klang and major highways, it said.

— BERNAMA

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