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PTT Synergy Arm Signs Pacts to Develop Five Industrial Warehouses

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PTT Development, a subsidiary of PTT Synergy Group (KLSE:PTT), has entered into five separate sale and purchase agreements with Koperasi Kakitangan Bank Rakyat to develop warehouses on 20 individual parcels of freehold land, according to a Thursday filing to the Malaysian stock exchange.

Under the pact, on completion of the development, PTT Development will sell the warehouses to Sekatarakyat for 52 million ringgit per unit. Each Warehouse will have a built-up area of around 101,567.81 square feet.

The warehouses will be developed within 36 months from the date of the respective share purchase agreements.

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