This article first appeared in The Edge Financial Daily on November 6, 2019 - November 12, 2019

KUALA LUMPUR: HCK Capital Group Bhd is planning to buy a commercial parcel at Empire City @ Damansara for RM10.71 million in cash.

The group has signed an agreement with Cosmopolitan Avenue Sdn Bhd for the 17,422 sq ft commercial parcel on level 1 within zone 2 of the commercial complex. The purchase will be funded by internally generated funds, HCK said in a filing.

“The proposed acquisition is strategically located in Damansara Perdana, a synergistic purchase that will enhance the group’s property investment portfolio for a recurring rental income,” said HCK, adding that it also forms part of the group’s plans to broaden and expand its earnings base to improve long-term growth prospects.

The group said the acquisition is expected to contribute positively to its future earnings.