Aemulus buys land in Penang for RM9.93m

PETALING JAYA: Aemulus Holdings Bhd is acquiring a piece of 1.63-acre land at Bayan Lepas Industrial Park, Penang, for RM9.93 million.
In a filing with the stock exchange, Aemulus said its wholly owned subsidiary Aemulus Corporation Sdn Bhd had entered into a sale and purchase agreement with The Penang Development Corp for the acquisition.
The proposed acquisition will enable the company to construct and possess its own corporate office building.
The corporate office and design centre with built-up area of 50,000 sq ft are expected to be ready by December 2018.
Aemulus said the proposed acquisition will be financed through internally-generated funds and bank borrowings.
It also said it is planning to invest RM25 million for the next three years in research and development as well as the new office building.