KUALA LUMPUR: Matrix Concepts Holdings Bhd
is acquiring 57 parcels of vacant agriculture land measuring a combined 174.77ha in Kulai, Johor, for RM169.31mil.
The group said its wholly-owned subsidiary Matrix Concepts (Southern) Sdn Bhd has inked separate sales and purchase agreememts with various land owners for the parcels, which are held under separate individual titles but are adjacent or adjoining one another.
"The land is strategically located between Kulai town and the emerging Sedenak Industrial Growth Corridor, with connectivity to the North-South Expressway, Senai International Airport and the wider Johor Bahru-Kulai network. Johor Bahru is approximately 43km from the site, while ETS connectivity to JB Sentral further enhances accessibility across the southern region," it said in a filing with Bursa Malaysia.
Matrix Concepts said the proposed acquisition will strengthen and expand the company's existing
land bank, thereby supporting its long-term growth strategy and ensuring a sustainable pipeline of future developments.
The proposed acquisition is expected to be completed within four months from the fulfilment of the conditions attached to the sales and purchase agreement.
