M-Mode acquires land on Jln Yap Kwan Seng

KUALA LUMPUR: ACE market-listed company M-Mode Bhd is acquiring a 2,421 sq ft parcel of land along Jalan Yap Kwan Seng, here, for RM1.27 million.

In a filing to Bursa Malaysia on Thursday, June 17, the company said its unit M-Mode Mobile had on the same day entered into a sales and purchase agreement with two individuals, namely Ho Nyuk Chong and Ho Nyuk Chee, for the acquisition of the freehold vacant land.

The company added that the land is intended to be used as office premises for M-Mode and its subsidiaries. The purchase will be satisfied by way of bank borrowings and/or internally generated funds.

“The purpose of the acquisition is to address the space constraints issue currently faced by the group at the group’s headquarters and to cater for the business expansion of the group in the future,” the company stated.