KUALA LUMPUR, Maxim Global Bhd has announced plans to acquire a nine-storey office tower on Jalan Klang Lama for RM29.5 million, which will serve as the property developer’s new corporate headquarters.
The company said it signed a sale and purchase agreement with Magna Tiara Development Sdn Bhd to buy the building — Southbank Block 6 — which spans 4,039 sq m at RM678.55 per sq ft.
According to Maxim Global, the acquisition will enhance its corporate image and branding by establishing a stronger presence in a prominent location. The new headquarters is also expected to provide a more conducive working environment, improving staff satisfaction and retention, while supporting the group’s long-term growth strategy.
The purchase will be financed through a mix of internal funds and bank borrowings, with the final structure determined by gearing, interest costs, and available cash flow. As of June 30, Maxim Global held RM137.2 million in cash and cash equivalents against borrowings of RM294.9 million.
The transaction is targeted for completion within four months. On Friday, Maxim Global’s shares closed one sen or 2.6% lower at 38 sen, giving the company a market capitalisation of RM279.4 million. Year-to-date, the counter has risen more than 26%.
