PETALING JAYA: Scientex Bhd
’s subsidiary Scientex Lestari Sdn Bhd has entered into a sale and purchase agreement (SPA) with Pelangi Sdn Bhd, a subsidiary of S P Setia Bhd, for the purchase of 959.72 acres of freehold land in Tebrau, Johor Baru for RM547.7mil.
In a filing with Bursa Malaysia, S P Setia said the proceeds from the acquisition deal are expected to be utilised for investment into strategic project developments as well as repayment of bank borrowings.
