GD Express Carrier buys Abric Properties for RM19.3m
26 Oct 2017 / 21:03 H.
PETALING JAYA: GD Express Carrier Bhd is acquiring the entire stake in Abric Properties Sdn Bhd for RM19.3 million.
The group told Bursa Malaysia that its wholly owned subsidiary GD Facilities & Assets Management Sdn Bhd had on Oct 26 entered into a conditional share sale agreement with Abric Bhd for the acquisition.
Abric Properties is an investment holding company which primarily owns real properties located in Ipoh and Kuala Lumpur.
The purchase consideration will be financed by internally generated funds and/or bank borrowings.
With the acquisition, it will generate rental income for GD Express as well as for its business expansion purposes.
Its shares rose half a sen or 0.78% to 65 sen on some 1.65 million shares traded.