Lagenda Harta Sdn. Bhd entered into a sale and purchase agreement to acquire 3 Damansara Office Tower from CapitaLand Malaysia Trust (KLSE:CLMT) for MYR 52 million on September 5, 2023. Under the terms (i) MYR 1.04 million was paid prior to the execution of agreement, (ii) MYR 4.16 million was paid on execution of the agreement, and (iii) the balance MYR 46.8 million shall be paid on or before the expiry of three (3) months from the date of agreement. The proposed acquisition is to be financed by bank borrowings and/or internally generated funds. The net proceeds after divestment costs will be used to repay existing borrowings. The Proposed Acquisition is not subject to the approval of governmental authorities or the shareholders of LPB pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. The Transaction is expected to complete by 1Q 2024.

Lagenda Harta Sdn. Bhd completed the acquisition of 3 Damansara Office Tower from CapitaLand Malaysia Trust (KLSE:CLMT) on December 4, 2023.