PTT Synergy Group Bhd is proposing to acquire a 3.925-hectare freehold parcel in Seberang Perai Selatan, Penang, for RM62.53 million cash as part of its longer-term expansion plans.
The company said its wholly-owned subsidiary entered into a sale and purchase agreement with vendor Lee Mooi Khean on Sept 11, 2026. The land, identified as Geran 77766, Lot 1597, Mukim 12, Daerah Seberang Perai Selatan, is currently vacant.
PTT said the property will initially be held as an investment property, with potential for future development in line with the group’s business expansion plans.
The purchase consideration will be funded through a combination of internally generated funds and bank borrowings.
The group said the eventual funding mix will be determined after taking into account its gearing level, borrowing costs and working capital requirements.
Apart from any borrowings that may be raised to finance the acquisition, PTT said it will not assume any liabilities, contingent liabilities or guarantees arising from the transaction.
