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Paragon Globe Unit to Acquire Land in Johor, Malaysia for MYR127 Million

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Paragon Globe (KLSE:PGLOBE) unit PGB Gardens plans to acquire a 753/1,000 beneficial interest in a 103.9-hectare freehold land in Kulai, Johor, Malaysia, for 127.3 million ringgit in cash, according to a Tuesday Malaysian bourse filing.

The company intends to develop the land into an integrated industrial park featuring factory units, commercial space and a workers' hostel.

The proposed acquisition, subject to shareholder and other approvals, is expected to be completed in the second half of 2027.

The deal will be funded through a mix of bank borrowings and internal funds, it said.

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