FM Global buys land for RM38mil

PETALING JAYA: FM Global Logistics Holdings Bhd’s wholly-owned subsidiary, FM Global Logistics (M) Sdn Bhd (FMGLM), has proposed to acquire two parcels of land in Setia Alaman Industrial Park in Kapar for RM37.72mil cash.

FM Global, in a Bursa Malaysia filing, said FMGLM entered into a sale and purchase agreement (SPA) with Petaling Garden Sdn Bhd to acquire one parcel of freehold vacant land in Setia Alaman Industrial Park measuring approximately 2.82 acres for RM18.79mil.

Prior to that, FMGLM had, on Feb 6, entered into an SPA with Petaling Garden to acquire one parcel of 2.84 acres of freehold vacant land in the same area for RM18.93mil cash.