Pharmaniaga buys property in Terengganu

The company said the acquisition is consistent with its strategy to enhance its logistics and distribution capabilities.

KUALA LUMPUR: Pharmaniaga Bhd’s wholly owned subsidiary, Pharmaniaga Logistics Sdn Bhd, has signed two separate sale and purchase agreements (SPAs) to acquire properties in Terengganu and Sarawak as part of its expansion strategy to strengthen logistics and distribution capacity.

In a filing with Bursa Malaysia, Pharmaniaga said the first SPA was signed with Sinoria Sdn Bhd for the acquisition of a single-storey detached building on leasehold land in Kuala Nerus, Terengganu, measuring 11,549 sq m, for RM19.5mil.