Versatile's subsidiary NSK Grocer proposes RM25.85mil retail mall acquisition in Petaling Jaya
In a filing with Bursa Malaysia, Versatile said NSK entered into a sale and purchase agreement with Empire Benefit Sdn Bhd, which is currently undergoing liquidation, for the acquisition.
Versatile said the purchase price would be financed through a mix of internally generated funds and/or bank borrowings, with the exact allocation yet to be decided.
'The proposed property acquisition is in line with NSK's strategic growth plan to expand its retail footprint in high-density and commercially strategic urban communities.
'The property's location and configuration are suitable for enhancing operational capacity and long-term value creation,' it said.
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