KUALA LUMPUR: FM Global Logistics Holdings Bhd
’s wholly owned subsidiary, FM Global Logistics (M) Sdn Bhd (FMGLM) has proposed to acquire two parcels of land in Setia Alaman Industrial Park, Kapar for RM37.72mil cash.
FM Global, in a Bursa filing, said FMGLM entered into a sale and purchase agreement (SPA) with Petaling Garden Sdn Bhd to acquire one parcel of freehold vacant land in Setia Alaman Industrial Park measuring approximately 2.82 acres for RM18.79mil.
Prior to that, FMGLM had, on Feb 6, entered into a SPA with Petaling Garden to acquire one parcel of 2.84 acres of freehold vacant land in the same area for RM18.93mil cash.
FM Global said the proposed land acquisitions will be financed through internally generated funds and/or bank borrowings, the quantum of which has yet to be determined at this juncture.
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