Eupe Corp Bhd plans to acquire two parcels of freehold lands in Bandar Sungai Petani, Kedah, for RM40.68 million to be developed into a township that integrates residential, commercial and community facilities, and homes.
In an exchange filing on Friday (Jan 19), it said its wholly-owned unit Eupe Land Development Sdn Bhd (ELDSB) has entered into a third sale and purchase agreement with Sing Ta Nian Development Sdn Bhd for the acquisition of the third and fourth parcels of freehold lands, measuring 54.67 acres in total area (or 221,238 square meters), in the Kuala Muda district.
ELDSB had earlier acquired two plots of land in 2022, paying RM40 million for a freehold land measuring 53.74 acres (or 217,478 square meters) and M15.32 million for a 20.58 acres land, both contiguous to the two parcels of land it now plans to acquire.
ELDSB directors are Datuk Beh Huck Lee and Muhamad Faisal Tajudin, who are also the group MD and ED, respectively, according to the exchange filing.
For the first six months ended Aug 31, 2023, Eupe Corp has posted a net profit of RM12.14 million on RM143.60 million in turnover.
The counter closed at 86 sen on Friday, valuing the company at RM110 million. The stock has been trading between 92 sen and 76 sen in the last 52 weeks.
