PETALING JAYA: Central Global Bhd
is acquiring a four-storey office and showroom from Sribina Resources Sdn Bhd in Kota Kinabalu, Sabah for RM19.5mil.
In a filing with Bursa Malaysia, Central Global said the acquisition is part of the overall strategy of increasing the group’s profile as one of the leading construction groups in East Malaysia, specifically Sabah.
Additionally, Central Global said the acquisition will allow the company to cross-sell and expand its presence of its products and to be the headquarters/ warehouse/ storehouse for its vehicles/ machinery when projects are completed.
The company said the acquisition is estimated to be completed within five months of the sale and purchase agreement with Sribina.
“The property is purchased for own office usage and the board of directors of Central Global is not aware of any specific risk or risk factors arising from the acquisition other than the normal and market risks.”
