HCK Capital acquires land for RM19mil
In a filing with Bursa Malaysia, the property developer said it had acquired the plot from Bandar Setia Alam Sdn Bhd.
'With the acquisition of plot three, the total and combined cash consideration for the acquisition of plot one, plot two and plot three now stands at RM57.99mil.'
HCK Capital said the proposed acquisition aligned with its strategy to expand its land bank in prime growth corridors of Selangor, enabling future property development with high growth potential.
'The land is located within the established Setia City BizPark, a mature commercial precinct in the Bukit Raja region, which is well-connected by highways and surrounded by established townships.
'The strategic location and strong demand for commercial properties in the area are expected to enhance HCK Group's earnings over the medium to long term.'
The proposed acquisition is subject to the usual risks associated with property development including regulatory approvals, market demand, construction risks, and changes in economic conditions, it added.
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