Advanced Packaging Technology has ventured into real estate investment with the purchase of a property lot in one of the most sought-after postcodes in Klang Valley. Via its subsidiary, Sino Peak Sdn Bhd the group picked up a bungalow lot along Jalan Maarof for a total cash consideration of RM9.5 million.
The lot bearing the address 162A, Jalan Maarof, Taman Bandaraya, is currently being rented to high-end furniture dealer Linds Furniture. According to APT, the property measuring approximately 507.699 square metres in the area together with a double-storey detached building erected could be used for investment purposes or serve as an office to house employees.
It further adds that the rationale behind the purchase is due to the proximity of the property which provides the APT with convenient access to many financial institutions, professional service providers, and other existing prospective stakeholders (including talent, customers, suppliers, and business partners). In addition, the Company will be able to leverage its brand and corporate image in an upmarket area.
APT has also another building located adjacent to an existing property and could potentially combine to build a larger building for commercial use.
The company with its factory in Bangi is primarily involved in all types on packaging for consumer and industrial goods.