MMC sells more land to Shengda


MMC said in a filing with Bursa Malaysia that a unit of wholly-owned Senai Airport Terminal Services Sdn Bhd, has entered into a deal with Shengda to dispose of the vacant industrial land for RM24mil.

KUALA LUMPUR: MMC Corp Bhd is selling an additional 11.07 acres in Senai Airport City (SAC) to Shengda New Energy Sdn Bhd, as the Chinese-based company seeks to expand its solar system manufacturing facility in Johor.

MMC said in a filing with Bursa Malaysia that a unit of wholly-owned Senai Airport Terminal Services Sdn Bhd, has entered into a deal with Shengda to dispose of the vacant industrial land for RM24mil.

“Shengda’s investment into SAC is for the purpose of its long term expansion plan for the manufacturing of solar tracker slew gear (tracking driver), solar cleaning robots and power station demonstration project as well as research and development testing lines for battery energy storage, ” MMC said.

Prior to the deal, Shengda had acquired 11.07 acres in SAC on Nov 11.

“Shengda’s aggregate total purchase consideration in SAC is valued at RM48.2mil, ” MMC said.

Apart from the disposals, the Senai airport operator had, on Feb 26, entered into deals with electrical and electronic companies for the disposal of three parcels of vacant industrial land.

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