Daily Express Subscriber
Sign in to your account.

Kuala Lumpur: AME Elite Consortium Bhd’s wholly owned subsidiaries, Twin Sunrich Sdn Bhd (Twin Sunrich) and Golden Symphony Sdn Bhd (Golden Symphony), have proposed to acquire two pieces of land measuring up to 12.88 hectares in Senai, Kulai, Johor, from Nice Frontier Sdn Bhd (NFSB) for RM101.18 million.

In a filing with Bursa Malaysia, the construction company said the proposed acquisitions would be a strategic investment opportunity to increase AME’s existing land bank at a strategic location.

“After taking into consideration the favourable outlook on the potential development of the subject lands, AME believes that the proposed acquisitions will augur well for the group.

“The future development of the land is expected to contribute positively to the group’s future earnings in the medium term and deliver growth to the group if the development components on the lands are planned properly,” it said.

AME said the proposed acquisitions are not expected to have an immediate material impact on AME’s earnings and earnings per share for the financial year ending March 31, 2026.

“However, it is expected to contribute positively to the future earnings of AME,” it added.