OSK Indirect Unit Acquires Land In Sungai Petani For RM72 Mln
KUALA LUMPUR, Dec 6 (Bernama) -- OSK Holdings Bhd's indirect subsidiary OSK Amanjaya Sdn Bhd, has entered into a sale and purchase agreement with Central Kedah Properties Sdn Bhd to acquire five parcels of land in Sungai Petani, Kedah, for RM72 million.
In a filing with Bursa Malaysia, the group said the acquisition, covering approximately 133.76 hectares, will be funded through a combination of internally generated funds and bank borrowings.
"The acquisition will allow the group to enhance its land bank for future development projects. It positions the group to meet the growing demand for residential, commercial, and mixed-use properties,” it said.
This expansion aligns with the group’s strategy to increase its market share in the property development sector while reinforcing its reputation for delivering quality developments, it added.
The group noted that barring any unforeseen circumstances, the acquisition is expected to be completed in the second quarter of 2025.
-- BERNAMA