PETALING JAYA: Vestland Bhd
has entered into several sale and purchase agreements (SPAs) with Sg Besi Construction Sdn Bhd and Armani KPF2 Development Sdn Bhd for the acquisition of 16 properties, totalling RM24.99mil.
In a filing with Bursa Malaysia, the group said the deals were done through its wholly-owned subsidiary, Vestland Resources Sdn Bhd. Vestland inked 10 SPAs with Sg Besi Construction to acquire 10 office suites located at Shah Alam, Selangor for RM6.99mil.
Moreover, the group has also signed six SPAs with Armani for six units of semi-detached industrial warehouse and factory at the Armani Business Park situated in Kota Kinabalu, Sabah for RM18mil.
Vestland said the proposed office acquisition will be funded via internally generated funds while the proposed warehouse acquisition will be funded via a mix of internally generated funds and bank borrowings.
