PETALING JAYA: BCB Bhd
is acquiring four parcels of freehold land spanning about 644,000 sq m in Batu Pahat, Johor, for a combined RM110.9mil, with potential developments on the land carrying a preliminary estimated gross development value (GDV) of RM1.1bil.
The group is acquiring the land from Indah Corporation Bhd through two wholly owned subsidiaries, Amber Vista Property Development Sdn Bhd and Banang Central Development Sdn Bhd.
Of the total purchase consideration, RM74.74mil is for three parcels of land to be acquired by Amber Vista Property Development, while the remaining RM36.17mil is for one parcel to be acquired by Banang Central Development.
In a filing with Bursa Malaysia, BCB said the acquisition would be funded through a combination of internally generated funds and bank financing.
The group expects the acquisition to contribute positively to its future earnings, although it is not expected to have a material impact on earnings for the financial year ending June 30, 2027.
BCB said the acquisition is in line with its long-term growth strategy to expand its existing land bank and build a sustainable pipeline of future property development projects.
Upon completion, the group intends to explore suitable development opportunities on the land, subject to prevailing market conditions and obtaining the necessary regulatory approvals.
The acquisition is expected to be completed in the first half of 2027.
