Riverstone Holdings subsidiary acquires land in Selangor for RM5m

SINGAPORE (Jan 19): Riverstone Holdings has, through its wholly-owned subsidiary Riverstone Resources, acquired a piece of industrial land at No. 17, Jalan Jasmine 3, Kawasan Perindustrian Bukit Beruntung, Selangor, Malaysia for a consideration of RM5 million.

The land measures about 6,740.76 sqm (or 72,557 sqft) and was purchased to support the expansion of the group’s operations, as well as the expansion of of production capacity for cleanroom gloves.

The purchase consideration was arrived at on a “willing buyer, willing seller” basis taking into account the market value of similar properties in the area.

The acquisition will be funded from internal resources and will not have any material impact on the group’s earnings per share or net tangible assets for the current financial year ending Dec 31.

Shares in Riverstone closed 1 cent higher or 0.7% up at S$1.50 on Jan 19.

Get the latest news @

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. DONE DEAL: Shoplot at Bandar Mahkota Cheras, Selangor
  2. DONE DEAL: Two-storey bungalow at Damansara Indah Resort Homes, Selangor
  3. DONE DEAL: Three-storey semi-detached factory at Seri Kembangan, Selangor