Dynaciate to buy land in Seremban for RM13mil

“The proposed acquisition is consequential and complementary to the group’s plan in expanding its property portfolio via acquisition of land and properties to cater for future development activities into warehouses and hubs for logistic business by capitalising on and building on the group’s existing business segment which is construction,” it said. (File pic shows Dynaciate Group fabricating activities)

PETALING JAYA: Dynaciate Group Bhd has proposed to acquire a 4.913-acre plot of vacant freehold commercial land in Seremban, Negri Sembilan, for a total consideration of RM13mil for future venture into warehouses and hubs for the logistics business.In an announcement with Bursa Malaysia, the company said its wholly owned subsidiary Magnitude Resources Sdn Bhd entered into a sale and purchase agreement with Grand Century Construction Sdn Bhd yesterday for the proposed acquisition.

The agreement would be satisfied in cash via a combination of borrowings, internally generated funds, proceeds received from the exercise and conversions of the convertible securities of the company and future fund raising.