Sapura, GDEX sign lease agreement

In a filing with Bursa Malaysia, Sapura said it had entered into a 15-year lease agreement with GD Express Sdn Bhd from Sept 1, 2022 to Aug 31, 2037, with an option to renew for another five years.

KUALA LUMPUR: Sapura Resources Bhd will lease out its land, measuring 598,570 sq ft with four warehouses and two office buildings in Petaling Jaya, to a unit of GDEX Bhd.

In a filing with Bursa Malaysia, Sapura said it had entered into a 15-year lease agreement with GD Express Sdn Bhd from Sept 1, 2022 to Aug 31, 2037, with an option to renew for another five years.

The lease agreement is expected to provide the group with secured revenue totalling RM50.2mil over the 10-year period from Sept 1, 2022 to Aug 31, 2032.