Mah Sing buys industrial land for RM45.5m

Mah Sing Group Bhd, via its subsidiary Multi Synergy Group Sdn Bhd, has entered into a sale and purchase agreement with Quill Industrial Properties Sdn Bhd to acquire about 7.67 hectares of land in Shah Alam for about RM45.5 million.

The land is earmarked for industrial development, to be named iParc2@Shah, and will have an estimated gross development value of about RM143 million.

Mah Sing's Managing Director and Group Chief Executive Tan Sri Datuk Seri Leong Hoy Kum said with the acquisition, the company would be able to tap on the strong demand for good industrial property in the Hicom Industrial Estate.

"Since the launch of iParc@Bukit Jelutong in January, we have seen overwhelming response as we have sold 40 units out of the total of 42 units.
"That leaves only two units which is why this acquisition is timely and strategic as we would like to cater for the pent-up demand for this product," he said in a statement today.

By Bernama