Acesian Partners Unit Offers to Buy Malaysia Property for 8 Million Ringgit

MT Newswires05-27

Acesian Partners' (SGX:5FW) wholly-owned subsidiary, Acesian Engineering, offered to buy an industrial property in Johor, Malaysia from All Security Technology for 8 million Malaysian ringgit, according to a Sunday filing with the Singapore Exchange.

The leasehold property with a land area of about 8,094 square meters and a built-up area of roughly 5,574 square meters has a remaining lease period of about 21 years, the filing said.

The transaction is subject to the signing of a sale and purchase agreement and is expected to be completed within four months from the signing of the sale agreement, the filing said. Upon the grant of the offer, the company paid 2% of the purchase price, which is equivalent to 160,000 ringgit.

Acesian Partners' shares fell 2% in recent Monday trading.

Price (SGD): S$0.05, Change: S$, Percent Change: -2.04%

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