PETALING JAYA: Sedania Innovator Bhd
is proposing to acquire an office in Petaling Jaya, Selangor, from Body Fashion (M) Sdn Bhd for RM3mil.
In a filing with Bursa Malaysia, Sedania said the premises measures 1,008sq m and will be used as the office of the group.
“The proposed acquisition is part of the Sedania Group’s investment objective. The property is strategically located close to the company’s group’s headquarters located on the 10th and 11th floor of the same building and it will help management in monitoring its operations in the future.
“This proximity will significantly reduce costs associated with inter-office travel, communication infrastructure and shared resources.”
The company said the proposed acquisition is not expected to have any material financial impact on the earnings, net assets, gearing and the share capital and substantial shareholding of Sedania Group for the current financial year ending June 30, 2025.
At 5pm, Sedania shares closed up 3.13% to 16.5 sen.
