Dynaciate to acquire 8-acre industrial land in Serendah for RM10 mil

07 Oct 2021

Dynaciate Group Bhd is acquiring an 8-acre piece of industrial land in Serendah, Selangor, from Brem Holdings Bhd for RM10.1 million.

The acquisition is in line with its strategy to grow its land bank at strategic locations for future development into industrial buildings such as warehouse and factory, the construction company said in a filing with Bursa Malaysia.

“In view of growth of e-commerce industry in Malaysia, strategically located storage offices and/or warehousing space are vital for efficient logistic services and therefore, the board expects this shall augur well for the demand for the group’s property portfolio,” the company said.

Dynaciate’s share price closed unchanged at 10 sen, valuing the company at RM67.5 million. Some 640,000 shares changed hands on Thursday.

Source: The Edge Markets