SACSB disposed its vacant industrial lands for solar tracking system manufacturing facility

Johor Bahru, 26 April 2021 – Senai Airport City Sdn Bhd (SACSB), a wholly-owned subsidiary of Senai Airport Terminal Services Sdn Bhd, which in turn is a wholly-owned subsidiary of MMC Corporation Berhad entered into a sale and purchase agreement with SNESB for the disposal of vacant industrial lands at Senai Airport City (SAC) measuring approximately 11.07 acres for a purchase consideration of RM24.1 million.

Prior to this disposal, SACSB had entered into another SPA with SNESB on 11 November 2020 for the disposal of vacant industrial lands at SAC measuring approximately 11.07 acres. SNESB’s aggregate total purchase consideration in SAC is valued at RM48.2 million.

SNESB’s investment into SAC is for the purpose of its long-term expansion plan for manufacturing of solar tracker slew gear, solar cleaning robots and power station demonstration project, as well as research and development testing lines for battery energy storage.

Apart from the above disposals, SACSB had also entered into three SPAs with electrical and electronic (E&E) companies on 26 February 2021, for the disposal of a total three parcels of vacant industrial lands measuring in aggregate approximately 21.36 acres, for a total purchase consideration of RM46.5 million.

The remaining vacant industrial lands available for sale in SAC is approximately 887.50 acres.

– Construction+ Online

Source: MMC