KUALA LUMPUR (Aug 11): HCK Capital Group Bhd (KL:HCK) entered into a deal on Monday to acquire a third parcel of freehold land in Setia City BizPark from Bandar Setia Alam Sdn Bhd for RM19.35 million.
With the purchase of this parcel measuring 1.23 acres, HCK Capital is acquiring an aggregate 3.66 acres from Bandar Setia Alam for a cumulative RM57.99 million in cash. Agreements were signed last week with Bandar Setia Alam for the acquisition of the earlier two parcels.
Bandar Setia Alam is principally involved in property development and property investment holding.
HCK Capital said the latest 1.23-acre parcel was valued at RM19.89 million based on an independent valuation carried out by a registered valuer. The RM19.35 million price tag represents a 2.7% discount to the independent valuation.
The consideration will be funded via internally generated funds and bank borrowings, the company said.
“The land is located within the established Setia City BizPark, a mature commercial precinct in the Bukit Raja region, which is well-connected by highways and surrounded by established townships,” HCK Capital said.
“The strategic location and strong demand for commercial properties in the area are expected to enhance HCK’s earnings over the medium- and long-term,” it added.
The acquisition is expected to be completed by the first half of 2026.
HCK Capital’s shares ended two sen or 0.92% lower at RM2.15 on Monday, valuing the company at RM1.34 billion.