KUALA LUMPUR, HCK Capital Group Bhd is purchasing two freehold land parcels in Selangor from Bandar Setia Alam Sdn Bhd for a total cash consideration of RM38.64 million.
In a filing with Bursa Malaysia, the company said the acquisition will be made through its indirect wholly-owned unit, Reside Capital Sdn Bhd, which has signed two conditional sale and purchase agreements (SPAs) with Bandar Setia Alam.
The first parcel, measuring 1.2107 acres, is priced at RM19.51 million, while the second parcel, at 1.2199 acres, will cost RM19.13 million. Both are located within Setia City BizPark, a commercial area in Selangor.
Bandar Setia Alam is mainly involved in property development and investment.
HCK Capital noted that the deals are subject to several conditions, including approval from the Economic Planning Unit (EPU) if the purchase amount exceeds RM20 million, the issuance of separate land titles, and state authority consent where required.
The acquisition is expected to be completed in the first half of 2026.
“The strategic location and strong demand for commercial properties in the area are expected to support HCK’s earnings over the medium to long term,” the company said.
As of Friday, HCK Capital’s share price closed flat at RM2.16, giving the group a market capitalisation of RM1.35 billion.
