Gamuda Bhd’s wholly owned indirect subsidiary, Gamuda DC Infrastructure Sdn Bhd, has entered into a sale and purchase agreement with West Synergy Sdn Bhd to acquire 157.42 hectares of freehold land plots in Port Dickson for RM424.4 million.

In a Bursa Malaysia filing today, the regional engineering, property, and infrastructure group said the land acquisition is for development related to cloud and data centre infrastructure.

“The acquisition shall be funded by internally generated funds. Barring unforeseen circumstances, it is expected to be completed by the end of July 2025, the company added.

West Synergy is a 60 per cent-owned indirect subsidiary of MUI Properties Bhd.

Meanwhile, in a separate filing, MUI Properties said that the disposal is expected to result in a one-off estimated net gain of RM206.13 million and increase its net assets by RM123.68 million.

The proposed disposal is part of the group’s efforts to monetise its land banks and investment properties to strengthen its financial position and achieve strategic goals.

“Part of the proceeds will be used to acquire new land banks or properties for development or investment in prime locations to be identified later. These acquisitions will help the group to diversify its portfolio, explore new opportunities and sustain long-term growth,” it added.

Trading of MUI Properties’ shares was suspended this morning pending the announcement and is set to resume tomorrow at 9
am.

It was last traded at 43.5 sen per share.

Source: Bernama, 30 December 2024