KUALA LUMPUR (Jan 24): Solid Automotive Bhd's (SAB) wholly- owned subsidiary Part Center Sdn Bhd (PC) has entered into Sale and Purchase Agreements (SPAs) with two land owners to buy two plots of land, both measuring 1.90 hectares (4.69 acres) in Kapar, Klang.
It signed a SPA with Top Quality Glove Sdn Bhd to purchase a freehold agricultural parcel in Kapar, Klang for RM15.92 million and another SPA with vendor Karich Sdn Bhd (KSB) to purchase a similar-sized freehold parcel for RM16.97 million.
In separate filings with Bursa Malaysia, SAB said both proposed acquisitions were on a willing buyer-willing seller basis.
The filings said the proposed acquisitions are aligned with the company's strategic plan to operate more efficiently.
The parcels are located in a freehold industrial zone with access to Meru Timur industrial area, Bandar Setia Alam and Port Klang.
The proposed acquisitions will facilitate the company’s consolidation plans.
Barring any unforeseen circumstances, both proposed acquisitions are expected to be completed by the fourth quarter of the financial year 2025.
Uploaded by Lam Seng Fatt