PETALING JAYA: Chin Well Holdings Bhd
is acquiring three parcels of freehold land totalling 128,509 sq m in Seberang Prai, Penang from High Rich Realty Sdn Bhd for RM48.4mil.
In a filing with Bursa Malaysia, the carbon steel fasteners manufacturer said the transaction is consistent with the company’s long-term growth strategy of acquiring land bank at good locations with strong potential for capital appreciation and development.
“The properties are strategically located along the main road and easy access to key economic zones and industrial areas, including the Batu Kawan Industrial Park, Valdor and prominent townships such as Simpang Ampat, Bukit Minyak and Nibong Tebal.
“The properties are in close proximity to the Second Penang Bridge, further enhancing accessibility,” the firm said.
