PETALING JAYA: Dynaciate Group Bhd
’s wholly-owned subsidiary Magnitude Resources Sdn Bhd has entered right into a conditional sale and buy settlement with Sime Darby Property (Nilai) Sdn Bhd (SDPN) to accumulate a freehold industrial land with buildings erected in Nilai, Seremban for RM15mil money.
The land is a freehold industrial land measuring 7,690 sq. metres, with a single-storey indifferent manufacturing facility and a two-storey workplace constructing.
“The prospects of the Nilai Property include its location in the Sime Darby XME Business Park; connected to major highways to Kuala Lumpur, Putrajaya, Seremban, Johor and Singapore.
“It is 4km away from Nilai Inland Port and Kuala Lumpur International Airport located 25km away. Furthermore, Nilai will be the second stop for the East Coast Rail Link,” Dynaciate mentioned in a submitting with Bursa Malaysia.
SDPN, a wholly-owned subsidiary of Sime Darby Property Bhd, is principally concerned in property growth, funding and provision of property administration companies.
Executive director Melvin Lim mentioned: “In view of the growth of the e-commerce industry in Malaysia, strategically-located storage offices and warehousing spaces are vital for efficient logistic services. Therefore, we are confident that the proposed acquisition shall augur well for the group’s property portfolio and contribute positively to the group’s future earnings.”
Dynaciate mentioned the proposed acquisition might be financed by a mixture of internally generated funds, financial institution borrowings and proceeds from a personal placement train, which is predicted to be accomplished by the second quarter of the calendar yr 2024.
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