PETALING JAYA: IGB Bhd
, via its wholly-owned indirect subsidiary, Bintang Sentral Sdn Bhd (BSSB), has acquired two freehold land parcels totalling 24.3 acres in Bandar Meru Raya, Ipoh, Perak for RM43.65mil.
In a statement, the company said the acquisition is conditional upon the approval from the Malaysian Ministry of Economy and the state authority for land transfer to BSSB, which is expected to be obtained within six months of signing the sale and purchase agreement.
IGB said the land comprises two adjoining parcels connected by an existing reinforced concrete bridge crossing a water retention pond.
“The site, previously occupied by Movie Animation Park Studios, is highly advantageous as it already has supporting infrastructure in place.
“The land parcels are strategically located along the North-South Expressway, offering prominent frontage views from the highway, favourable connectivity to the Ipoh North Toll Plaza, and easy access for commuters.”
IGB said the acquisition enhances its presence in Perak, providing the group with a foundation to capitalise on the future growth and success in the state.
“The site is primed for a commercial mixed-use development that aligns perfectly with the group’s long-standing expertise in its core businesses.
Unless unforeseen circumstances arise, the acquisition is anticipated to be completed in the second half of 2026, it said.
