Latest news with #PTTLogisticsHub2SdnBhd
The Star
18-07-2025
- Business
- The Star
PTT Synergy buys Gombak land for RM60mil to build automated warehouse
PETALING JAYA: PTT Synergy Group Bhd 's wholly owned unit PTT Logistics Hub 2 Sdn Bhd, has entered into eight separate sale and purchase agreements with Koperasi Kakitangan Bank Rakyat Bhd to acquire eight parcels of freehold land in Gombak, Selangor for a total cash consideration of RM60mil. In a filing with Bursa Malaysia, the group said it plans to develop a single-storey industrial facility equipped with an automated storage and retrieval system (ASRS) on the lands, which will subsequently be leased to a third party upon completion. The land parcels collectively span up to 7,215 sq m, with individual prices of up to RM9.5mil. The proposed development is expected to cost RM270mil and will be funded with a mix of internally generated funds and bank borrowings. Construction is slated to begin on July 31, 2025, with completion targeted within 18 months. Upon completion, the facility is expected to generate annual rental income of RM22.2mil. PTT Synergy noted the land acquisition will support its investment strategy to develop a fully automated commercial warehouse and reinforce its commitment to providing end-to-end intralogistics solutions.
New Straits Times
18-07-2025
- Business
- New Straits Times
PTT Synergy's unit acquires eight industrial land parcels for RM60 mln
KUALA LUMPUR: PTT Synergy Group Bhd's wholly-owned subsidiary, PTT Logistics Hub 2 Sdn Bhd, has entered into eight separate sale and purchase agreements to acquire eight parcels of freehold industrial land in Rawang, Selangor, for a total cash consideration of RM60 million. In a filing with Bursa Malaysia today, the group said the agreements were signed with Koperasi Kakitangan Bank Rakyat Bhd on July 18. "The proposed acquisition provides an investment opportunity for the group to develop a commercial warehouse. "This is part of the group's strategy to continuously provide comprehensive solutions for warehousing and distribution centres, with a strong emphasis on total intralogistics solutions," it said. PTT Synergy said it plans to construct a single-storey industrial building with Automated Storage and Retrieval System Equipment to be subsequently leased/rented to a third party. The expected development cost for the said project is estimated at RM270 million, commencing July 31 and targeted for completion within 18 months. "The development will be financed by a combination of internally generated funds and bank borrowings, and the completed facility is expected to fetch an annual rental/lease of RM22.2 million," it said. PTT Synergy said the proposed acquisition and subsequent development are expected to contribute positively to the group's future revenue and profitability. The acquisition is expected to be completed within four months from the date of the agreements, subject to the fulfilment of conditions in the sale and purchase agreements.
