Scientex to buy Johor land for RM580 million
The proposed purchase covers 503 acres in Pulai, with completion expected in the second half of 2027.
Scientex Bhd has agreed to acquire 503 acres in Pulai, Johor, for RM580 million, adding to its property development land bank. The company said in a filing that it intends to develop the site as a mixed development.
The purchase agreement involves Scientex’s wholly owned subsidiary, Scientex Quatari Sdn Bhd, and Pangkal Budiman Sdn Bhd, which is a subsidiary of Leong Hup Holdings Sdn Bhd. The site comprises 14 plots currently owned by the Lau family of Leong Hup International Bhd.
Scientex said it was not yet able to determine the development value or other project details. It expects the location near its existing projects to improve operating efficiency by allowing development on a larger scale.
Internal funds and bank borrowings will finance the acquisition, which is expected to close in the second half of 2027. Scientex had cash of RM357.8 million and total borrowings of RM2.05 billion as of July 31, 2026.
The company said the land would support its continuing focus on affordably priced landed properties, for which it described demand as firm and resilient.
Scientex’s main businesses are flexible plastic packaging manufacturing and affordable housing development in Malaysia. Its website lists land holdings exceeding 11,000 acres across seven states in Peninsular Malaysia. The company has delivered 47,000 homes and aims to build 50,000 affordable homes nationwide by 2028.
