PETALING JAYA: Critical Holdings Bhd
(CHB) is acquiring two pieces of freehold land and hereditaments in Bandar Jelutong, Penang, measuring approximately 2,425.619 sq metres with a semi-permanent building erected thereon from Rimbaco Sdn Bhd for RM11.45mil.
In a filing with Bursa Malaysia, the engineering firm said the proposed acquisition will allow for the construction of a new operation office in the future.
“The new operation office will play a crucial step in fulfilling the group’s strategic plan to continuously expand and enhance its operational and project management capabilities.
“The new operation office will be able to serve as a hub to efficiently and effectively manage the increasing volume of the group’s projects for various critical facilities.”
CHB said the construction cost for the new operation office is expected to be funded via a combination of the group’s internally generated funds and external financing.
“Barring any unforeseen circumstances, the proposed acquisition is expected to be completed in the first quarter of 2026.”
