APB plans to acquire Menara Serba Dinamik for RM38mil

KUALA LUMPUR: APB Resources Bhd plans to acquire the 16-storey Menara Serba Dinamik in Shah Alam, Selangor, along with the leasehold land where it sits for RM38 million, subject to the High Court’s approval.

The process equipment maker said it received a letter from the liquidator of Serba Dinamik Group Bhd yesterday informing that it had received the forms of summons copy relating to the liquidator’s application for directions on the sale of the 3,025-sq metre land together with the office building erected thereon.

"The purchase consideration of RM38 million was arrived at based on an ‘as-is-where is’ basis after arm’s length negotiation and after taking into consideration the net book value and the market value of the said property,” the company said in a filing with Bursa Malaysia today.

APB, which is based in Shah Alam, said the acquisition would enable the group to utilise the property for its own purposes and generate income by renting it out.

It added that the proposed transaction was expected to be completed before Nov 30, 2023. - Bernama