PETALING JAYA: GPP Resources Bhd
is acquiring a piece of freehold land measuring 0.387 hectare in Johor Baru from Mewajohor Sdn Bhd for RM5mil.
In a filing with Bursa Malaysia, the biomass renewable energy solution provider said the land includes a single-storey medium industrial detached factory annexed with a three-storey office.
GPP Resources said the acquisition will be satisfied via a combination of bank borrowings and/or internally generated funds.
“The proposed acquisition enables GPP group to secure long-term ownership of a critical operational facility, providing stability and reducing reliance on leased premises. By owning the property, GPP Group avoids rental escalation and dependence on third-party landlords, ensuring more predictable operating costs.
“In addition, the acquisition supports the group’s future expansion plans, offering flexibility to modify or expand the facility in line with business growth. It also strengthens GPP Group’s asset base and enhances operational flexibility, allowing for improved productivity, workflow optimization, and long-term sustainability, ultimately contributing to shareholder value.”
