5 land transactions took place in May 2022. Spread across various states, the land transactions are primarily for industrial purposes, with one focusing on high-rise development.
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HZ Green Pulp Sdn Bhd (HZGP) acquired 1.2 hectares of land in Seberang Perai Tengah, Penang
HZ Green Pulp Sdn Bhd (HZGP), a pulp maker, acquired land from Pensonic Holdings Bhd. The land is located in Seberang Perai Tengah, Penang and comprises an office block, 2 two-storey warehouses, a guard house and an ancillary building.
In a bourse filing on 9 May 2022, Pensonic announced that its wholly-owned subsidiary, Persia Electronic Sdn Bhd (PESB), signed a sales and purchase agreement (SPA) with HZGP to dispose of the land.
The 60-year leasehold land, with an expiry date of 13 January 2054, is 1.2 hectares and sold at RM15.8 million. Pensonic states it will use the money from the sale to improve the group’s overall financial position.
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CSH Alliance Bhd bought 22.3 hectares of land in Tanjung Malim, Perak
CSH Alliance Bhd acquired 3 pieces of adjacent land in Tanjung Malim, Perak. The industrial leasehold land, with an expiry date of 30 June 2067, has a total size of 22.3 hectares and was bought at RM12 million.
CSH’s wholly-owned subsidiary and electronic vehicles (EV) business arm, Alliance EV Sdn BHD (AEV), acquired the land. In a statement on 10 May 2022, CSH said that the land would be used to set up a locally completed knocked down (CKD) assembly plant for its electronic vehicles (EV) business.
CSH says the land will serve as AEV’s strategic effort to have a completely built-up (CBU), CKD and local assembly plant. It is part of meeting the requirements of the Ministry of International Trade and Industry (MITI) to expand its car manufacturing sector.
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Knusford Bhd is buying 2 parcels of land in Tanjung Danga, Johor
On 17 May 2022, Knusford Bhd announced that it is purchasing 9.84 acres of freehold land from Iskandar Waterfront City Bhd (IWCity). The vacant unconverted land comprises 2 parcels in Tanjung Danga, Johor. Knusford aims to utilise the land to capitalise on the potential construction of the Johor Baru-Singapore Rapid Transit System (RTS).
The land is 13 kilometres west of Johor Bahru city centre. Singapore Causeway, which connects Johor Bahru to Woodlands in Singaporethorugh Johor Straits, is 12 kilometres southeast of the land. Thus, it makes a suitable area if the Johor Baru-Singapore RTS is built in the future.
Knusford will pay IWCity in a partial settlement. The original cost of the land was RM93.38 million when purchased by IWCity on 3 March 2017. Currently, the indicative selling price of the land is considered to be around RM90 to RM95 million. However, the final amount will be determined after the land has been assessed by independent valuers appointed mutually by both parties.
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EUPE Corp Bhd proposed to buy 1.95 hectares of land in Kampung Attap, Kuala Lumpur
EUPE Corp Bhd plans to build a high-rise residential building in Kampung Attap, Kuala Lumpur. The building needs 1.95 hectares of land. As such, EUPE’s wholly-owned subsidiary, EUPE Belfield Sdn Bhd, entered a conditional agreement with Cahaya Tinggi Sdn Bhd on 23 May 2022 to buy the land on the location.
Belfield is a prime location as it has some catalytic developments, including Bandar Malaysia, Merdeka 118, Stadium Merdeka, Royal Museum, KL Sentral, and Petaling Street. As such, the leasehold land, with an expiry date of 3 December 2118, is a strategic location for EUPE’s future developments.
The area has ample amenities and a tranquil environment, which is ideal for residential properties. It will help EUPE expand its property development and contribute to an additional income source for the company.
The project details, such as development cost and funding requirement, have still not been finalised. However, if everything goes well, then EUPE expects the acquisition to be completed by the second half of 2022.
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Seng Hiap Glass Sdn Bhd is purchasing 3 acres of land in Pasir Gudang, Johor
Seng Hiap Glass Sdn Bhd, a Malaysian private company, purchased 3 acres of land from Kori Holdings Limited’s unit Kori Construction at RM5.8 million. The leasehold industrial land is located in Kawasan Perindustrian Pasir Gudang. The lease of the land will expire on 12 October 2074.
Currently, the land comprises a single-storey open shed and 2 storey office building. On 25 May 2022, Kori Construction announced that it would sell the land on an as-is-where-is basis to Seng Hiap. However, further plan for the land has not been disclosed by Seng Hiap as yet.
To know about the latest land transactions in Malaysia, stay tuned to the Guyub news portal.
