MKH completes RM42.2m acquisition of 14.91-acre freehold land in Bangi for commercial development
MKH Bhd has completed the purchase of 14.91 acres of freehold land in Bangi, Selangor, for RM42.205 million. The site, acquired via a wholly-owned subsidiary, is earmarked for a commercial development with an estimated gross development value of RM170 million.
PETALING JAYA (Oct 8): MKH Bhd has completed its acquisition of approximately 14.91 acres of freehold land in Bangi, Selangor, from Inch Kenneth Kajang Rubber Public Ltd Co for RM42.205 million. In separate Bursa Malaysia filings dated Wednesday (Oct 7), both companies confirmed the transaction was completed that day.
The acquisition was undertaken by Serentak Maju Corp Sdn Bhd, a wholly-owned subsidiary of MKH, under a sale and purchase agreement signed on April 28, 2025. The parcel measures approximately 6.0323 hectares and is identified as Lot 540, held under title GRN 342880 in Mukim Semenyih, Hulu Langat district.
In its April 2025 announcement, MKH said its subsidiary proposed a commercial development on the land with an estimated gross development value of approximately RM170 million. The group noted the parcel fronts Jalan Bangi Lama and is accessible via that road, with Serene Heights, Taman Setia Alam Sari and Universiti Kebangsaan Malaysia nearby. The land was then planted mainly with oil palm trees.
MKH said the purchase price was agreed on a willing-buyer, willing-seller basis, taking into account its internal assessment of the site’s viability for commercial development upon conversion to commercial use. Under the agreement, Inch Kenneth was required to obtain commercial rezoning approval and subsequently submit an application to convert the land title to commercial use.
MKH said the acquisition would support the expansion of its property development business in Selangor and would be funded through a combination of internally generated funds and bank borrowings. Meanwhile, Inch Kenneth said the disposal would unlock asset value, help reduce amounts owed to creditors and provide working capital to support its subsidiaries. In its original announcement, the seller earmarked RM35.355 million of the proceeds for working capital and RM6.85 million for estimated disposal expenses.
