Sunsuria Bhd through its wholly-owned subsidiary Sunsuria Residence Sdn Bhd on 22 April 2022, entered into a Sale & Purchase Agreement to acquire a piece of vacant leasehold land held under In Ijok, Daerah Kuala Selangor, Negeri Selangor, measuring approximately 60.81 acres fom Superjet Revenue Sdn. Bhd.for RM74,168,740.80.
In a Bursa Filing, it said that the proposed acquisition represents an opportunity for Sunsuria Group to accumulate strategic industrial land for property investment and/or development purposes. The said Land is situated in a strategic location where the necessary infrastructures are readily available, with positive industrial development potential within the area.
Upon execution of the SPA, the Purchaser shall pay a deposit of RM7,416,874.08 (“the Deposit Sum”) in the following manner:- (i) a sum of RM2,225,062.02 (“Retention Sum”), being three percent (3%) of the Purchase Consideration for the purpose of the Real Property Gains Tax and the balance of RM5,191,812.06 only to the Purchaser’s Solicitors as stakeholder who shall be authorized to release the same along with accrued interest, if any, to the Vendor as soon as possible upon the Purchaser’s Solicitors having received a certified true copy of the State Consent and in any case not exceeding ten.
The Purchase Consideration will be funded by a combination of bank borrowings and internally generated funds.
