GFM acquires entire stake in Era Gema

PETALING JAYA: GFM Services Bhd has entered into a share sale agreement for the proposed acquisition of a 100%-stake in Era Gema Bina Sdn Bhd for RM23mil.

In a filing with Bursa Malaysia, the integrated facilities management service provider said the acquisition will enable the group to develop, operate and maintain the rest and service area (RSA) at Sungai Muda, Penang, situated along the Northbound lane of the PLUS Malaysia Bhd North-South Expressway.

Era Gema has been awarded the rights by the Malaysian Highway Authority to undertake the proposed development of an RSA on a 1.74 ha land located at Sungai Muda, Penang.