Scientex to buy freehold land in Rawang for RM85mil

Scientex was among the top gainers as investors were positive about its purchase of Mondi Ipoh Sdn Bhd (MISB) for RM58mil cash to expand its consumer packaging division.

KUALA LUMPUR: Scientex Bhd's subsidiary, Scientex Park (M) Sdn Bhd, has entered into a sale and purchase agreement with Medius Developments Sdn Bhd to acquire 26.44 hectares (ha) of freehold land in Rawang, Selangor, for RM85.4mil.

The global packaging manufacturer and leading property developer in a statement here said, it planned to launch a mixed development project on the land, where the Gross Development Value (GDV) was yet to be determined.