PETALING JAYA: Kumpulan Jetson Bhd
’s 51%-owned subsidiary Magical Era (M) Sdn Bhd has accepted a letter of intent (LoI) from construction firm Encore Merger Sdn Bhd for the proposed acquisition of 30 industrial lots in Taboh Naning in Alor Gajah, Melaka, for RM22.2mil.
In a filing with Bursa Malaysia, Jetson said the purchase price for the industrial lots, measuring 68,757 sq m, was inclusive of earthworks, excavation, filling works, roadworks, water supply, sewerage and electrical as well as telecommunications supply.
Under the terms of the LoI, Encore Merger has until Nov 15, to perform all feasibility and due diligence investigations on the property, and until Nov 30, to execute a sales and purchase agreement.
The acceptance of LoI is not expected to have any material effect on the issued and paid-up capital of the company and the substantial shareholders’ shareholding.
