A1 A.K. Koh’s RM16.73 mil Puchong land acquisition turns unconditional

PETALING JAYA (Aug 7): A1 A.K. Koh Group Bhd's RM16.73 million acquisition of a leasehold commercial site in Puchong, Selangor, has turned unconditional following the fulfilment of all conditions precedent under the sale and purchase agreement (SPA).

In a Bursa Malaysia filing on Thursday (Aug 6), the processed food and beverage products distributor said the SPA became unconditional on the same day.

Its wholly owned subsidiary, A.K. Koh Enterprise Sdn Bhd, is acquiring the vacant land held under HSD 243851, PT 976 in Pekan Puchong Jaya, Daerah Petaling, Selangor, from Qualitypack Properties Sdn Bhd for RM16.73 million in cash. The parcel has a surveyed land area of 4,070 sq m (1.01 acres) and carries a 99-year lease expiring on June 24, 2101, leaving an unexpired term of about 75 years. The purchase price equates to about RM382 psf.

A1 plans to develop a four-storey commercial building with an estimated gross floor area of about 45,260 sq ft on the site to serve as its regional sales and marketing office for the central region. Construction is expected to begin in the third quarter of 2027, with operations targeted to commence in the fourth quarter of 2029.

The new building will replace A1's rented 4,938 sq ft office in Taman Perindustrian OUG. The group said the larger premises would support its expansion in the central region through new customers, products and market segments.

Previous planning approvals for the site were for a five-storey commercial complex, but A1 intends to submit fresh plans for its own four-storey regional office after completion of the acquisition.

The land was valued by Laurelcap Sdn Bhd at RM16.5 million as at April 9, 2026, placing the purchase consideration at a premium of RM228,740, or 1.39%, over the assessed market value.

A.K. Koh Enterprise has secured a RM14.85 million term loan from RHB Bank Bhd to partly finance the acquisition, with the balance to be funded through internally generated funds.

Under the SPA, the remaining RM15.06 million purchase consideration is payable within three months after the agreement became unconditional. A1 shareholders approved the acquisition at an extraordinary general meeting on July 29.

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