Scientex acquires land in Johor for RM200mil

PETALING JAYA: Scientex Bhd via its wholly-owned subsidiary, Scientex Heights Sdn Bhd, has entered into a conditional sale and purchase agreement with Guan Hong Plantation Private Ltd for the proposed acquisition of 24 parcels of freehold land, all situated in Muar, Johor, for RM200mil.

In a filing with Bursa Malaysia, the packaging manufacturer and property developer said it has plans to develop the lands, which has an aggregate area of 442.7566 hectares, into a mixed-property development.