Sports Toto in RM25mil asset purchase
PETALING JAYA: Sports Toto Bhd is proposing to acquire three freehold commercial units located at the ground floor of Berjaya Times Square, Kuala Lumpur, from Berjaya Assets Bhd for RM24.9mil.
Berjaya Corp Bhd is a major shareholder of Sports Toto and Berjaya Assets.
In a filing with Bursa Malaysia, Sports Toto, which has key businesses in automotive retailing and servicing, hospitality, gaming, property development and investment, said the three commercial units are currently tenanted and have a total floor area of about 1,637 sq ft.
Sports Toto said the proposed acquisition will enable the company to invest in the property which is income generating, as well as to benefit from potential future capital appreciation of the property value.
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