KUALA LUMPUR, Sept 1 -- Scientex Bhd’s shares on Bursa Malaysia rose in the early session today, as investors reacted positively to its recent announcement of a land acquisition plan.
At 10.05 am, the counter rose 5.0 sen to RM4.53 with 182,600 shares changing hands.
In a statement Monday, Scientex said its wholly-owned unit, Scientex Park (M) Sdn Bhd, is set to acquire five plots of freehold land totalling 101.5 hectares in Jenjarom, Selangor from Seriemas Development Sdn Bhd for RM207.6 million.
Scientex said the group plans to launch a mixed development project on the land, though it has yet to determine the project’s gross development value (GDV).
Its chief executive officer Lim Peng Jin said that the proposed land acquisition is an opportunity for the group to increase its existing landbank in Selangor, especially after the encouraging take-up for its current developments in Kundang Jaya and Rawang.
He noted that the positive response had strengthened the company’s belief in the resilient and robust demand for affordable homes.
-- BERNAMA
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