PETALING JAYA: SBH Marine Holdings Bhd is proposing to acquire vacant industrial land measuring 7.228 acres in Seberang Perai Tengah, Penang via a court sanctioned auction for RM18.9mil.
In a filing with Bursa Malaysia, SBH said the proposed acquisition is in line with the group’s mission to enhance its prestige by establishing its corporate offices/ facilities at a strategic location.
Additionally, the company said the acquisition will allow it to generate greater economies of scale, which will create a better value for SBH Group.
“The board noted that the land is situated at a strategic location, approximately 17.5 kilometres to the southeast of Penang Sentral, 24 kilometres to the Butterworth Port, Penang and 36 kilometres to the Penang International Airport.”
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