Matrix Concepts to acquire Kulai land for RM 169.31 million

Bitget2026/10/27 04:46

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Matrix Concepts agreed on October 27, 2026, to acquire land in Kulai, Johor, for RM 169.31 million through its wholly-owned subsidiary.
The 57 parcels cover 174.7749 hectares, earmarked for mixed development with an estimated gross development value of RM 2.1 billion.
The purchase price is approximately RM 9 per square foot, versus an independently assessed value of at least RM 11.
Funding will primarily come from bank borrowings, raising projected gearing from 0.45 times to 0.49 times for the year ending March 2027.
Completion is expected within four months of fulfilling conditions precedent, which have a 12-month deadline from signing unless extended by mutual agreement.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Matrix Concepts Holdings Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3718829) on October 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Matrix Concepts to acquire Kulai land for RM 169.31 million

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