FMH buys two plots of freehold land in Klang for RM56.8mil

02 Aug 2021

Freight Management Holdings Bhd’s (FMH) unit FM Global Logistics (M) Sdn Bhd is acquiring two parcels of land in Klang for RM56.8 million from Cebur Megah Development Sdn Bhd.

In an exchange filing today, FMH said it had entered into a sale and purchase agreement with Cebur Megah for the acquisition.

The company said the combined 3.8ha land would facilitate future expansion of its warehousing and distribution services as part of the fulfilment and parcel logistics operations.

“The properties are strategically located, close to major seaports such as Northport and Westport in Port Klang and are situated in an established industrial area with good infrastructure and connectivity such as New Klang Valley Expressway, Federal Highway, New North Klang Straits Bypass and Port Klang for ease of logistics.”

FMH said the acquisitions would be funded through internally generated funds and bank borrowings.

Source: NST