PETALING JAYA: Scientex Bhd
’s recent proposed purchase of a parcel of freehold land in Mukim Batang Berjuntai seems positive, as the acquisition allows the company to expand its footprint and build affordable housing in the northern part of Selangor.
The acquisition will increase its net debt and net gearing from RM515mil and 0.15 times as at end-October 2023 to RM851mil and 0.24 times, respectively, but still highly manageable, Kenanga Research said.
