The property developer is selling a 51% stake in Andaman Daya Sdn Bhd, which owns 58,308 square metres of leasehold land in Dengkil, to Sinar Pavilion Sdn Bhd, according to an exchange filing on Friday.
The group said its indirect wholly owned subsidiary Trilink Essential Sdn Bhd (TESB) signed the agreement with the landowner, Bongsor Development Sdn Bhd, for the development of the 6.
With this deal, HCK’s total investment for Plots 1, 2 and 3 in the same development rises to RM57.
In a bourse filing, HCK Capital said its indirect wholly-owned subsidiary Reside Capital Sdn Bhd has entered into two conditional sale and purchase agreements (SPA) with Bandar Setia Alam for the land acquisition.
HCK Capital said the programme, undertaken by its wholly owned subsidiary HCK Cap Access Bhd, will involve the issuance of senior sukuk and perpetual sukuk.
HCK Capital is controlled by its executive chairman Tan Sri Clement Hii Chii Kok @ Hii Chee Kok with 55.
The sale price of RM34 million is RM15.
“This is in line with HCK’s intention to continuously seek suitable and viable acquisition opportunities which may include, among others, joint venture projects, acquisition of land bank, and property projects to further expand the property-related businesses of HCK.
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