Knusford acquires 11 retail units from Tropicana Danga Bay for RM9m

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KUALA LUMPUR (Apr 29): Knusford Bhd has entered into a sale and purchase agreement with Tropicana Danga Bay Sdn Bhd to acquire 11 retail units within Tropez Residences, a mixed development located in Johor Bahru, for a total of RM9.07 million.

In a Bursa Malaysia filing this evening, Knusford (fundamental: 1.8, valuation: 3) said the units would be used as the group’s corporate office in Johor Bahru and for future investment income generation.

The acquisition of the properties would be funded from internally-generated funds and/or [borrowings from] financial institutions.

Knusford shares closed two sen lower at RM1.86, with a market capitalisation of RM185.34 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)