>

>

Aspen unit to acquire 3 industrial plots in Selangor for $62.4 mil

By Stanislaus Jude Chan

/ The Edge Singapore |

November 30, 2017 5:39 PM SGT

SINGAPORE (Nov 30): Aspen Group’s associated company Global Vision Logistics (GVL) has entered into a sale and purchase agreement to acquire three plots of leasehold industrial land for a total of RM 190 million ($62.4 million).

Aspen’s wholly-owned subsidiary, Aspen Vision Properties, owns a 30% stake in GVL.

Located in Shah Alam, Selangor, the three plots span a total of 287,153 sqm, which is ready for immediate development.

The group intends to develop the land into a sustainable integrated logistics, warehousing and e-commerce hub.

This will include warehouses, storage areas, distribution centres, offices, e-commerce services, transportation hub and packaging facilities that enjoy direct access to KTM lines and major highways.

Aspen says the site is expected to be one of the most strategic logistics hubs in Malaysia following the completion of the proposed development.

The acquisition is expected to be funded by bank borrowings and internal resources.

“Large scale logistic infrastructure will boost the country’s competitiveness and the acquisition of this parcel of land marks the first step of our long-term vision in venturing into the logistic, warehousing and e-commerce business segment,” says M. Murly, president and chief executive officer of Aspen Group.

“With the transformation of Industry 4.0 and the evolution of e-commerce, we will transform this piece of industrial land into a forward thinking world-class logistics hub, with sustainable and integrated industrial facilities and advanced intelligent services,” he adds.

This story, written by Stanislaus Jude Chan, first appeared on The Edge Singapore.

Tags:

offshore Malaysia Aspen Group

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00