PETALING JAYA: Majuperak Holdings Bhd has entered into a term sheet agreement with Sloane Infinity Asia Pacific Sdn Bhd to acquire a 51% stake in Nexusbase Development Sdn Bhd for RM12.5 million.
Nexusbase is currently developing Nexus Residences @ USJ Subang West. With an estimated GDV of RM125 million, the development will comprise 153 apartment units equipped with advanced security features such as a dual key system, cardless car entry and panic buttons across the premises, along with exclusive access to a private lift lobby for several units. The development will also contain other facilities such as a swimming pool, children’s playground and security services.
Majuperak group CEO Nizran Noordin said the move mark its first foray into the property market out of Perak, tapping into the opportunities in the Klang Valley.
“Given its strategic location coupled with good accessibility and attractive facilities and amenities, the development represents significant potential and value, to enable Majuperak to expand our foothold in the property sector.
“Moving forward, we will continue to seek out viable opportunities to collaborate with other property development companies for potential projects,” he said in a statement today.
Nizran also pointed out that the group is also looking to increase its income streams by expanding into businesses that would complement its core operations, such as facility management that would strengthen its long-term prospects.
Under the term sheet agreement, Majuperak and Sloane will have an exclusivity period of four months to enter into a definitive agreement.
Source: The Sun Daily
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