PETALING JAYA: Jasa Kita Bhd
has proposed to acquire a 55% equity interest in SPPH Eco Biomass Resources Sdn Bhd (SPPH), a move that would give the group a controlling stake in a company whose principal asset is a large parcel of industrial land in Gebeng, Pahang.
In an announcement to Bursa Malaysia, Jasa Kita said that the acquisition involves the purchase of 3.85 million ordinary shares in SPPH for a cash consideration of RM14.51mil.
In addition, Jasa Kita will assume advances of RM23.83mil owed by SPPH to Abd Azis Mohamad, the vendor, bringing the total economic value of the transaction to RM38.34mil.
“SPPH’s primary asset is a 445,510 sq metre leasehold industrial land located within the Gebeng Industrial Estate — roughly the size of 60 football fields — one of Malaysia’s established heavy industrial zones and in close proximity to Kuantan Port.
“The industrial estate is a strategic industrial zone developed by the Perbadanan Kemajuan Negeri Pahang, spanning approximately 8,600 hectares across multiple phases.”
