KUALA LUMPUR (Oct 26): SSF Home Group Bhd (KL:SSF) is acquiring three parcels of leasehold industrial land in Pulau Indah, Mukim Klang, Selangor, for RM42.47 million to build its own warehouse and distribution facilities, according to a press statement issued on Monday (Oct 26).

The transaction is being executed via its wholly-owned subsidiary, SSF Sdn Bhd, which entered into a conditional sale and purchase agreement with IFFCO Foods Sdn Bhd.

The three vacant parcels of land cover a combined area of approximately 52,611.13 sq m, or 13 acres, and are designated for industrial use.

SSF Home Group executive director Lok Kok Khong said: "By developing our own warehouse and distribution facilities, we aim to increase our warehouse capacity and achieve long-term cost savings compared with renting. This investment is expected to enhance our operational efficiency and scalability while strengthening our asset base and reducing our exposure to rising rental costs over time, providing a stronger foundation to support our future business expansion."

The acquisition will be funded through internally generated funds and bank borrowings, with the group securing bank financing for up to 90% of the purchase consideration.

The proposed acquisition is expected to complete within four months and will not materially affect earnings for the financial year ending June 30, 2027.

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