A1 A.K. Koh completes RM16.73m Puchong Jaya land buy for regional office
Processed food and beverage group A1 A.K. Koh Group Bhd has completed its RM16.73 million acquisition of a 99-year leasehold commercial plot in Puchong Jaya, Selangor. The site, intended for a regional sales and marketing office, was bought through wholly owned subsidiary A.K. Koh Enterprise Sdn Bhd
PETALING JAYA (Oct 15): Processed food and beverage group A1 A.K. Koh Group Bhd has completed its RM16.73 million acquisition of leasehold commercial land in Puchong Jaya, Selangor, intended for a regional sales and marketing office.
In a Bursa Malaysia filing on Wednesday (Oct 14), the company said the acquisition by its wholly owned subsidiary A.K. Koh Enterprise Sdn Bhd was completed following payment of the balance purchase consideration to vendor Qualitypack Properties Sdn Bhd. The subsidiary signed the sale and purchase agreement on April 20. Shareholders approved the acquisition on July 29, and the agreement became unconditional on Aug 6 following fulfilment of all conditions precedent.
According to the company’s April announcement, the vacant parcel along Jalan Puchong Batu 7½ is held under title HSD 243851, PT 976 in Pekan Puchong Jaya, Petaling district. Its 99-year lease expires on June 24, 2101. The April announcement recorded a provisional land area of 4,089.85 sq m, or about 44,023 sq ft. A resurvey identified the parcel as Lot 76130 with an area of 4,070 sq m, or about 43,809 sq ft, which independent valuer Laurelcap Sdn Bhd adopted for its valuation. Conversion to final title was pending at the time of the April announcement.
The April filing put Laurelcap’s valuation at RM16.5 million as at April 9, compared with the agreed purchase price of RM16,728,740. In that filing, A1 said the proposed regional office would accommodate growth in its operations and staff strength in the central region. It said it was operating from rented premises in Taman Perindustrian OUG, Kuala Lumpur, and required additional space for its operations and future expansion.
At the time, A1 estimated development costs at approximately RM8.5 million, although the final gross development cost had yet to be determined. Construction was targeted to begin in the third quarter of 2027 and could take up to two years to complete. The company also said it would apply for the requisite approvals for the proposed building after completing the land acquisition. It estimated that the approval process would take at least nine to 12 months, subject to regulatory timelines.
The Oct 14 completion announcement did not update the proposed building’s specifications, development costs, construction timetable or financing arrangements.
