Furniture maker SHH buys RM10.2mil freehold land in Kajang for property venture

  • Property
  • Tuesday, 17 Apr 2018

KUALA LUMPUR: Furniture maker SHH Resources Holdings Bhd says a unit has agreed to buy two hectares of freehold land in Kajang, Selangor for RM10.2mil.

The property has been earmarked for residential use.

In a filing with Bursa Malaysia today, SHH said its 80% owned Rampai Pesona Sdn Bhd had entered into a sale and purchase agreement with Rising Charm Sdn Bhd on April 17 to acquire the land.

“The rationale for the proposed acquisition is in line with the company’s strategic plan to undertake other viable investment opportunities to enhance shareholders’ value in view of the current competitive furniture industry that it is principally involved in,” it said.

Property , Corporate News