KUALA LUMPUR: Scientex Bhd
’s wholly-owned subsidiary, Scientex Quatari Sdn Bhd, has entered into a conditional sale and purchase agreement with Pangkal Budiman Sdn Bhd for the proposed acquisition of 14 pieces of freehold land in Pulai, Johor for RM580.16mil.
In a filing with Bursa Malaysia, the company said the plots of land measuring an aggregate area of approximately 203.39 ha were located adjacent to its existing developments, Taman Pulai Mutiara, Taman Pulai Mutiara 2, Taman Pulai Duta and Taman Pulai Duta 2.
“The purchaser proposes to develop the land into a mixed-property development.
“It is currently too preliminary to ascertain the exact total gross development value, development cost, expected profits, expected commencement and completion dates of the development of the land as at the date of this announcement,” it said. — Bernama
