KSH Holdings to acquire Malaysian freehold properties for S$36m

Eyeing 26 plots of freehold land.

KSH Holdings Limited announced that Klang City Development Pte Ltd, (KCD), a 40% owned associated company of the Group, has through a nominee company incorporated in Malaysia, entered into a Sales and Purchase agreement to acquire 26 plots of freehold land.

The plots combined measure approximately 679,460 square feet and are located in Mukim Klang, Daerah Klang, Negeri Selangor.

The total purchase consideration for the proposed acquisition is MYR 91,727,100 or approximately S$36.0 million.

The purchase consideration will be contributed by the shareholders of KCD in proportion to their respective shareholdings.

The Group’s proportionate share of the purchase consideration amounts to approximately S$14.4 million, which will be funded by proceeds from Floating Rate Notes issued by the company and external bank borrowings.