AEM Elite Consortium's (KLSE:AME) subsidiaries have agreed to acquire 28 parcels of freehold land in Johor for around 199.8 million ringgit, according to a Thursday Bursa Malaysia filing.
The land, measuring around 176.45 acres, is intended to be developed into an industrial development.
The purchase will be funded entirely from internal funds.
Additionally, the deal is split across four independent sale and purchase agreements, with completion expected in the first half of 2027.
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