PETALING JAYA: Eupe Corp Bhd is acquiring a parcel of freehold land measuring 2.46 acres in Kuala Lumpur from MCL Land (Pantai View) Sdn Bhd for RM69.18mil.
In a filing with Bursa Malaysia, Eupe Corp said the proposed acquisition is in line with the group’s business expansion objective and growth strategy in accumulating new suitable land.
This, the company said, is to be included in the group’s landbank and to scale up its property development portfolio to generate additional streams of income moving forward.
“The proposed development on the land is expected to contribute positively to the group’s future revenue stream and profitability.”
Eupe Corp said the proposed acquisition will be satisfied in cash, which shall be funded by a combination of internally generated funds and bank borrowings.
“The exact mix of funding will be decided at a later date after due consideration of the group’s gearing level, interest costs as well as working capital requirements for the group’s business operations.”