PETALING JAYA: SKP Resources Bhd’s wholly owned subsidiary Bangi Plastics Sdn Bhd is acquiring four units at the 3elements project in Seri Kembangan from a related party for RM2.9 million.
In a filing with Bursa Malaysia, the group said Bangi Plastics had entered into a sale and purchase agreement (SPA) with Gan Poh Geok, the vendor, for the acquisition of the properties.
Poh Geok is the daughter of Datuk Gan Kim Huat, the executive chairman cum managing director and major shareholder of SKP. She is also the sister of Gan Poh San, the executive director and an indirect major shareholder of SKP.
The four units, which measure a total of 4,664 sq ft, will be used as a sales office for Bangi Plastics. It will also facilitate the group’s business operations and will serve as a regional sales office.
The group said that the properties will have long term potential in its investment value due to the strategic location. 3elements is a mixed development spanning 6.3 acres of prime land in Puchong South comprising a mall, retail lots and residential units developed by Titijaya Land Bhd.
The acquisition, which will be satisfied via internally generated funds, is estimated to be completed within three months from the unconditional date.
