KUALA LUMPUR: T7 Global Bhd's wholly-owned subsidiary, T7 Property Sdn Bhd, has proposed to acquire an office unit at KL Trillion, Jalan Tun Razak, Kuala Lumpur, for RM1.6 mil.
In a filing with Bursa Malaysia, the group said T7 Property had entered into a sale and purchase agreement with Tan Kay Shen to acquire the office unit.
The proposed acquisition is a related-party transaction as Tan Kay Shen is the son of major shareholder Tan Sri Tan Kean Soon and substantial shareholder Puan Sri Shirley Law Siong Hiong, and the brother of executive directors Tan Kay Zhuin and Tan Kay Vin.
T7 Global said the property, which has an independently appraised market value of RM1.61 mil, will support its operational and strategic needs, including office expansion and long-term asset holding.
The acquisition will be funded through internally generated funds and bank borrowings, and is expected to be completed in the third quarter of 2026.