Serba Dinamik in final discussions to buy Affin's office tower in Shah Alam

PETALING JAYA: Serba Dinamik Holdings Bhd has clarified that its wholly-owned subsidiary Serba Dinamik Group Bhd is in the final stages of discussion to acquire Bangunan Affin Bank Shah Alam from Affin Bank Bhd, a wholly-owned subsidiary of Affin Holdings Bhd.
"However, the sales and purchase agreement in relation to the proposed transaction is currently being prepared and has yet to be executed," Serba Dinamik said in a stock exchange filing on Friday.
Bangunan Affin Bank is a 16-storey building with four-storey basement located in Seksyen 14, Shah Alam, Selangor.
Serba Dinamik also highlighted that the prospectus in relation to its initial public offering (IPO) dated Dec 30, 2016 stated that as part of its future plans, it intends to acquire a corporate office building to house its head office and operational staff, and that it intends to utilise RM30 million from the proceeds of the IPO for such an acquisition.
"The company will make the necessary announcement(s) when there is a material development on the proposed transaction."
A business weekly reported that Affin is believed to have sold its office tower in Shah Alam to Serba Dinamik for an undisclosed sum.