Pharmaniaga Berhad has announced that its wholly-owned subsidiary, Pharmaniaga Logistics Sdn Bhd, has entered into a Sale and Purchase Agreement for the acquisition of a single-storey detached building in Gong Badak Industrial Area, Kuala Nerus, Terengganu, valued at RM19.5 million.
The acquisition forms part of Pharmaniaga’s strategy to strengthen its logistics infrastructure and enhance operational capacity in the eastern region of Peninsular Malaysia. According to the group, the move also aligns with its obligations under the Concession Agreement (CA) with the Government of Malaysia, represented by the Ministry of Health (MOH), signed on 3 January 2023.
The property, built on a leasehold land measuring approximately 11,549 square metres, was appraised by independent valuer Shah Real Property Consultants, which assessed its market value based on land and building evaluations in a report dated 24 September 2024.
Pharmaniaga said the acquisition, funded through proceeds from its Regularisation Plan, represents a proactive investment to bolster long-term efficiency, reliability, and service quality across its nationwide logistics network.
