Ingenieur Gudang Berhad (formerly known as Dynaciate Group Bhd) had entered into a Conditional Sale and Purchase Agreement with Paradise Boulevard Sdn Bhd for the proposed acquisition of 149 units of the retail and commercial complex for RM9.07 million.
The said retail and commercial complex is known as Pandan Safari Lagoon Shopping Complex and Water Theme Park, erected on the leasehold land located at Pandan Perdana, Bandar Ampang, Selangor. The group will be acquiring a gross property floor area measuring approximately 435,002 sqft out of 489,489 sqft which is comprised of retail lots, carpark and rooftop.
A filing with Bursa Malaysia showed that the proposed acquisition would be satisfied in cash via a combination of borrowings, proceeds from the disposal of properties and/or internally generated funds, the proportion of which will be determined later.
Barring unforeseen circumstances, the proposed acquisition is expected to be completed by the first quarter of the calendar year 2023.
On a separate note, the Group had on 27 July 2022 changed its name from Dynaciate Group Berhad to Ingenieur Gudang Berhad. The name change represents the Group’s new symbolic vision and to better reflect the nature of its business and future undertakings that focus on property investments
