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 m 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 operations office in the future.
“The new operations 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 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.”
The construction cost for the new office is expected to be funded via a combination of internally generated funds and external financing. The proposed acquisition is expected to be completed in the first quarter of next year.
