KUALA LUMPUR (Nov 4): Techbond Group Bhd (KL:TECHBND) is acquiring three parcels of industrial land in Eco Business Park 7, Negeri Sembilan, for RM27.76 million.

The seller, Eco Business Park 7 Sdn Bhd, is a joint venture comprising Eco World Development Group Bhd (KL:ECOWLD) with a 55% stake, SD Guthrie Land Ventures Sdn Bhd — a subsidiary of SD Guthrie Bhd (KL:SDG) — with 30%, and NS Corp with 15%.

The sizes of the parcels (lots 3003, 3004 and 3005) were not stated, but they were bought at RM70, RM70.02, and RM72.03 per square foot, respectively, for RM9.15 million, RM9.17 million, and RM9.44 million. The lands are free from encumbrances, charges, liens, and caveats.

Techbond said the acquisitions will be funded through a combination of cash and internal funds.

While the plots may serve as an investment in the near term, the company views them as a strategic asset offering flexibility for future development or operational relocation. The move supports Techbond’s long-term growth objectives and aims to enhance production and distribution continuity.

As of end-June, Techbond held RM112.08 million in cash against total borrowings of RM5.66 million.

On Tuesday, shares in Techbond closed one sen higher at 31.5 sen, valuing the group at RM239 million. Year to date, the stock has declined 18.2%.