PTT Synergy Unit Secures RM260 Mln Warehouse Deals With Sekatarakyat

KUALA LUMPUR, Aug 12 (Bernama) -- PTT Synergy Group Bhd's wholly owned subsidiary, PTT Development Sdn Bhd (PTTD), has entered into five separate sale and purchase agreements (SPAs) with Koperasi Kakitangan Bank Rakyat Bhd (Sekatarakyat) for a total consideration of RM260 million.

The group said under the agreements, PTTD will sell, while Sekatarakyat will purchase, five industrial warehouse units at RM52 million each upon completion.

"PTTD shall complete the development within 36 months from the date of the SPAs (Aug 12, 2026)," it said in a filing with Bursa Malaysia.

PTTD will undertake the development and construction of five industrial warehouses on 20 individual parcels of freehold land in Pontian, Johor.

The warehouses comprise single-storey industrial warehouse units with mezzanine office space and ancillary facilities, each with a built-up area of 101,567.81 sq ft.

The group said the development is expected to contribute positively to its revenue, earnings and net assets progressively.

-- BERNAMA