PTT Synergy buys Penang land for RM62.53mil

PTT Synergy Group Bhd subsidiary PTT Logistics Hub 3 Sdn Bhd has acquired a piece of freehold land in Seberang Perai Selatan, Penang for RM62.53 million. The company signed a sale and purchase agreement with Lee Mooi Khean for the land, which will be held as an investment with potential for future development. The acquisition aligns with PTT Synergy's long-term growth and expansion strategies.

The company expects to complete the purchase in the first quarter of 2027, with the entire amount paid in cash. The price was determined based on the willingness of both buyer and seller and the market value of similar land in the area.