皇冠体育官网开户:Siab buys 1.5536 acres leasehold land in Dengkil for RM4.33mil
KUALA LUMPUR: Siab Holdings Bhd has proposed to acquire a 1.5536 acres leasehold vacant industrial land in Dengkil, Selangor for RM4.33mil cash.
In a filing with Bursa Malaysia, Siab said its wholly-owned subsidiary, Siab (M) Sdn Bhd had entered into a sale and purchase agreement to acquire the land from Lo Hee Looi and Yoh Kon Khow.
“The purpose for the acquisition of the property is for the construction of storage facility on the property to store our construction materials as well as construction machinery and equipment that are not in use in the construction,” it said.,
Siab said it was part of the planned utilisation of proceeds raised from its initial public offering which had been disclosed in Section 4.9.1(a) of the prospectus of the company dated Jan 28.
Barring unforeseen circumstances, the proposed acquisition is expected to be completed within nine to 13 months.