PTT Synergy has infirmed that its subsidiary had entered into an Agreement to Build and Lease with a multinational corporation based in the northern region of Peninsular Malaysia that specialises in semiconductor manufacturing to build-to-suit and lease warehouse and office for a total lease value of RM399.7 million across 10 years.

The agreement is for a unit of single-storey warehouse with mezzanine floor, a unit of two (2) storey office building and a unit of power substation with supporting facilities to be used specifically as a warehouse or distribution centre with a total gross built up area measuring approximately 416,572.18 square feet in Seberang Perai Selatan Penang with an approximate area of 65,287.1185 square metres and an Automated Storage and Retrieval System with a storage capacity of 47,320 pallets together with all related automated material handling equipment and operational stations.

The built-to-suit and lease will be for a period of ten (10) years with a first extended term of five (5) years and second extended term of five (5) years with total lease rental amounting to approximately RM399.7 million for the first ten (10) years.

PTT did not disclose the name of the multinational.