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PETALING JAYA (Oct 30): Oriental Fastech Manufacturing Sdn Bhd (OFM) yesterday accepted the letter of offer to acquire Penang Science Park from Penang Development Corp (PDC) for RM24.03 million cash, theSundaily reported yesterday.
OFM, which is YBS International Bhd’s wholly owned subsidiary, had earlier proposed to buy the property from PDC.
The park includes a piece of industrial land together with the building erected, which comprises an area of 10.03 acres. The property is under a leasehold title and the lease has another 49 years remaining and will expire on May 19, 2068.
According to theSundaily's report, the proposed acquisition will be subject to a formal sale and purchase agreement (SPA) to be entered into between OFM and PDC by Feb 28, 2020.
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