KUALA LUMPUR (Feb 8): Ingenieur Gudang Bhd is buying a firm that has acquired the interest in 164 units of retail lots in a commercial complex in Pandan Perdana.  

The construction group said it is buying Deluxe Mission Sdn Bhd  from its sole owner, Soon Boon Fei, for RM8 million.

Deluxe Mission intends to repurpose and lease the retail lots in Pandan Safari Lagoon Shopping Complex and Water Theme Park to prospective e-commerce entrepreneurs, said Ingenieur in a bourse filing.

“The group is confident that the property will cater for prospective e-commerce entrepreneurs that have both online presence and an offline presence (physical stores) to create product and service awareness online, allowing potential customers to research and visit the physical store to make a purchase or pick-up of items purchased online,” said Ingenieur.

It added that the cost of the vacant property was RM11.27 million while the market value was RM30 million.

Ingenieur’s share price fell 0.5 sen or 4.35% to 11 sen on Wednesday (Feb 8), giving the group a market capitalisation of RM109.35 million.