KUALA LUMPUR: Kumpulan Jetson Bhd said its 51%-owned subsidiary Magical Era (M) Sdn Bhd has accepted a letter of intent (LOI) from construction firm Encore Merger Sdn Bhd for the proposed acquisition of 30 industrial lots in Taboh Naning in Alor Gajah, Melaka, for RM22.2mil.
In a filing with Bursa Malaysia, Jetson said the purchase price for the industrial lots, measuring 68,757sqm, is inclusive of infrastructure works including earthworks, excavation, filling works, roadworks, water supply, sewerage and electrical and telecommunications supply.
Under the terms of the LOI, Encore Merger has until Nov 15, 2025, to perform all feasibility and due diligence investigations on the property, and until Nov 30, 2025 to execute a sales and purchase agreement.