Guan Huat Seng to buy Melaka warehouse for RM4m
Guan Huat Seng Holdings Bhd plans to acquire a freehold warehouse in Krubong, Melaka, for RM4 million. The property will serve as interim storage while the group awaits completion of a new facility in the fourth quarter of 2028.
PETALING JAYA (Nov 3): Guan Huat Seng Holdings Bhd plans to acquire a freehold warehouse property in Krubong, Melaka, for RM4 million to meet interim storage needs pending the completion of a new facility in the fourth quarter of 2028.
In a Bursa Malaysia filing on Monday (Nov 2), the group said its wholly-owned subsidiary GHS Food Industries Sdn Bhd had entered into a conditional sale and purchase agreement with Angel Court (M) Sdn Bhd for the acquisition. The property comprises a single-storey detached warehouse annexed with a two-storey office building at No. 1586-1, Jalan PK 12, Taman Perindustrian Krubong.
It occupies 2,106 sq m (about 22,669 sq ft, or 0.52 acres) of industrial land held under Geran 27670, Lot 2539, Mukim of Krubong, in the Melaka Tengah district. The approximately 19-year-old building has a total floor area of 1,406.73 sq m (about 15,142 sq ft). The property’s proposed use remains warehousing.
Guan Huat Seng said the property’s proximity to its existing Krubong facility would help integrate warehousing and operational activities, improve logistics coordination and provide additional storage capacity. It added that ownership would provide greater operational control and security of tenure while reducing exposure to tenancy renewals, rental increases and potential relocation.
According to the filing, the RM4 million purchase price matches the property’s market value as assessed by independent valuer IVPS Property Consultant Sdn Bhd as at Oct 7, 2026, using the comparison method. The acquisition will be funded through bank borrowings and internally generated funds, with the proportions to be determined later.
An earnest deposit of RM80,000 was paid on Aug 10, while a further RM320,000 is payable upon signing the agreement. The remaining RM3.6 million is payable within three months of GHS Food Industries or its solicitors receiving the vendor’s written notification that state consent for the transfer has been obtained. The proposed acquisition is conditional on the vendor obtaining that consent and does not require shareholders’ approval. Barring unforeseen circumstances, the group expects completion by February 2027.
Guan Huat Seng said the acquisition is not expected to affect its earnings or earnings per share for the financial year ending July 31, 2027. Its impact on gearing will depend on the eventual funding mix.
