KUALA LUMPUR: Cyberjaya Education Group Bhd
has proposed to acquire three parcels of freehold commercial land in Dengkil, Selangor, for RM15mil to support the future expansion of its University of Cyberjaya.
In a filing with Bursa Malaysia, the group said its indirect wholly-owned subsidiary, Ilmu Living Sdn Bhd, had entered into a sale and purchase agreement with Maju Puncakbumi Sdn Bhd (in liquidation) for the acquisition.
The three contiguous parcels of vacant land have a combined area of 24,777 sq m. The purchase will be satisfied entirely in cash, with RM1.5mil already paid as deposit.
The remaining RM13.5mil is expected to be funded through internally generated funds and bank borrowings.
