Sunway Bhd to acquire 4 parcels of land for RM68.54 million

Sunway Bhd to acquire 4 parcels of land for RM68.54 million

KUALA LUMPUR, Feb 19  — Property developer, Sunway Bhd, is acquiring four parcels of land in Selangor for RM68.54 million.

In a filing to Bursa Malaysia, it said Sunway Dimension Stones Sdn Bhd (SDSSB), a wholly-owned subsidiary of Sunway Holdings Bhd, had entered into a Sale and Purchase Agreement (SPA) with Tamura Electronics (M) Sdn Bhd to acquire freehold land in Petaling, Selangor, measuring about 210,790 square feet together with the buildings erected thereon for RM35.820 million.

Sunway also announced that Ekuiti Meranti (M) Sdn Bhd, a wholly-owned subsidiary of Sunway City Sdn Bhd, had also entered into three other SPA’s with SDSSB, Viewpick Sdn Bhd and Chen Yew Plastics Sdn Bhd to acquire three parcels of leasehold land of a 60-year tenure in Selangor for RM32.725 million.

Both Sunway Holdings and Sunway City are units of Sunway Bhd.

It said the acquisition of the three parcels of land will provide Sunway with an additional land bank of 1.7 hectares for industrial development.

— BERNAMA
 

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