PJI Construction Sdn Bhd, a wholly-owned subsidiary of PJI Holdings Bhd, has signed a conditional sale and purchase agreement with Noble Star Services Sdn Bhd for a proposed acquisition of a piece of land for a cash consideration of RM13.2 million.
The company said the land, identified in Damansara, measures 5,257 square metres, together with all buildings erected or to be built on the land.
The buildings will include a single-storey warehouse, a three-storey office building, two guardhouses, a rubbish disposal site and a power sub-station," it said in a filing to Bursa Malaysia.
The company said the property shall upon completion of the proposed acquisition would become the headquarters for the PJI Group of Companies. PJI is currently renting its business premises in Shah Alam.
With the proposed acquisition would enable PJI to have better control of its group’s operations and administrative matters, it added.