PETALING JAYA: Kumpulan Jetson Bhd
(KJB) plans to acquire a 51% stake in Magical Era (M) Sdn Bhd for RM32mil to gain control of the latter’s 63.44-acre Vendor City Industrial Park (VCIP) in Melaka.
KJB announced that its wholly-owned unit Jetson Development Sdn Bhd had entered into a letter of intent (LoI) with Datuk Seri Baljinder Singh Surinder Singh to negotiate on the proposed acquisition.
The LoI will be terminated on Nov 30 if not executed by Baljinder, who fully owns Magical Era.
VCIP is a high-end integrated industrial development within Melaka’s industrial, education and recreational centre.
