PTT Synergy to buy four Klang land parcels for RM32 million
The company intends to use the freehold industrial properties for its operations and future expansion, with completion expected within 36 months.
PTT Synergy Group Bhd will pay RM32 million in cash to acquire four industrial land parcels in Bandar Bukit Raja, Klang, the company disclosed in a Sept 30 bourse filing. Together, the parcels cover 8,778 square metres.
The freehold properties are being purchased from Sime Darby Property (Bukit Raja) Sdn Bhd, a subsidiary wholly owned by Sime Darby Property Bhd. According to PTT Synergy, each parcel includes a detached factory that is either completed or awaiting construction.
PTT Synergy, whose businesses include industrial construction and automated logistics, intends to occupy the properties for its operations and accommodate future expansion. It said the purchase will be financed with bank borrowings and should be completed within 36 months.
The group also bought land on Sept 11, paying RM62.53 million for a freehold parcel measuring 3.925-hectare in Seberang Perai Selatan, Penang. The Klang transaction is its second land acquisition in September.
PTT Synergy ended trading on Sept 30 at RM1.52 after rising seven sen, or nearly 5%. Its market value stood at RM725.6 million.
