KUALA LUMPUR (Oct 24): Serba Dinamik Holdings Bhd is proposing to acquire Bangunan Affin Bank, a 16-storey office building with a four-storey basement carpark in Shah Alam, from Affin Bank Bhd for RM43.5 million.
 
Serba Dinamik intends to use the building to house its head office and operational staff within Selangor, the group said in a filing with Bursa Malaysia.
 
The integrated engineering, contracting and maintenance services group said it intends to relocate all of its existing employees from its existing head office in Shah Alam to the new corporate office.
 
In addition, with such relocation, the group will be able to expand the capacity of its training centre in Shah Alam to accommodate more trainees.
 
“The board expects rental rates in Shah Alam to remain stable in the future and with the potential for appreciation of capital values of properties located in the vicinity of the property, the group could benefit from the potential upside of the property in the longer term.
 
“In addition, the potential rental income from the property will provide the group with an additional source of recurring income,” Serba Dinamik added.
 
Barring any unforeseen circumstances, the acquisition is expected to be completed in the first quarter of 2018.
 
Serba Dinamik shares closed down 4 sen or 1.5% at RM2.64 today, for a market capitalisation of RM3.5 billion.