ETA Group completes RM16.5m acquisition of Bandar Sri Damansara freehold industrial property
ETA Group Bhd has completed the RM16.5 million acquisition of a freehold industrial site in Bandar Sri Damansara, Selangor. The property includes a five-storey office/factory building with a net lettable area of about 21,794 sq ft, and the group plans to generate rental income from the asset.
PETALING JAYA (Oct 7): ETA Group Bhd, formerly known as Rex Industry Bhd, has completed its RM16.5 million acquisition of a freehold property in Bandar Sri Damansara, Selangor, from Fitters Diversified Bhd. In a Bursa Malaysia filing on Tuesday (Oct 6), ETA said the acquisition by its wholly-owned subsidiary ETA Development Sdn Bhd was completed following full settlement of the balance purchase price and apportioned outgoings under the sale and purchase agreement.
The group, whose businesses include manufacturing, distributing and exporting halal food and beverages, has diversified into property and construction activities. ETA Development signed the agreement on May 22 to acquire the approximately 19,150 sq ft site together with a five-storey office/factory building and a basement carpark.
Located at No. 1, Jalan Tembaga SD 5/2, the property is held under title H.S.(D) 85928, PT 23968, Mukim Sungai Buloh, Petaling district, Selangor. According to ETA’s May 22 filing, the building has a gross built-up area of approximately 30,455 sq ft and a net lettable area of about 21,794 sq ft. The land is categorised for industrial use, with an express condition for light industrial use.
ETA said in that filing that it intended to lease the property to generate recurring rental income and might use part of it for its corporate office and operations in the future. The group described the acquisition as its initial foray into property investment, supporting its diversification into property development, management and investment, as well as construction and related activities.
ETA said the purchase price represented a discount of approximately 8.33% to 10.81% to the estimated fair sale price of RM18 million to RM18.5 million stated in an independent fair opinion letter by Izrin & Tan Properties Sdn Bhd dated Dec 12, 2025. In its May 26 supplementary filing, ETA said the estimate was based on a market assessment and comparisons with similar properties nearby, considering factors including location, size, condition, improvements and recent comparable transactions. It also confirmed that the purchase consideration was to be settled entirely in cash.
