Scientex completes acquisition of Pulai land

PETALING JAYA: Scientex Bhd says that all conditions precedent in the purchase of its 335 acres in Pulai, Johor for RM284mil have been satisfied in accordance with the terms and conditions of its agreement.

“The payment of the balance purchase price has been made to the vendor on July 10, 2018, hence marking the completion of the proposed acquisition,” Scientex said in a filing with Bursa Malaysia.

Back in December last year, Scientex announced that it was buyng the land for the development of a mixed township.

It said that it was leveraging on its existing and successful business model of providing affordable and quality landed properties to such category of affordable property mass market in the medium to long term.