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Brem Holding to buy 7.6 acre industrial tracts for RM48m cash

KUALA LUMPUR: Brem Holding Bhd has proposed to buy two parcels of industrial leasehold land and properties in Section 51A, Petaling Jaya measuring 30,789.91 sq m (7.6 acres) for RM48 million cash.

The group's subsidiary Harmony Property Sdn Bhd had entered into a sale and purchase agreement (SPA) with ROCA Malaysia Sdn Bhd, a Johnson Suisse Holding AG unit, Brem Holding announced to Bursa Malaysia on Tuesday, Mar 15.

The tracts comprise a 25,219.17 sq m (6.23 acres) plot with a warehouse, office and factory and a parcel measuring 5,519.74 sq m (1.36 acres) with pilings.

According to the group, the price was arrived at on a willing-buyer-willing-seller basis.

Brem Holding intends to fund the purchase with a mix of internally-generated funds and borrowings.

The transaction is expected to be completed within three to six months from the date of the SPA.

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