Ingenieur Gudang to purchase 164 shop lots in a retail complex in Pandan Perdana

Key takeaway: Ingenieur Gudang Bhd is purchasing a firm that has acquired a stake in 164 retail lots in a Pandan Perdana commercial development.

The construction company said that it will acquire Deluxe Mission Sdn Bhd's for RM8 million from its sole owner Soon Boon Fei.

According to Ingenieur in a stock filing, Deluxe Mission plans to repurpose and lease the retail lots in Pandan Safari Lagoon Shopping Complex and Water Theme Park to potential e-commerce companies.

"The group is confident that the property will meet the needs of potential e-commerce entrepreneurs who have both an online presence and an offline presence (physical stores), in order to create product and service awareness online, and allow potential customers to research and visit the physical store to make a purchase or pick-up items ordered online," said Ingenieur.

It further stated that the market value of the vacant property was RM30 million, while the cost of the property was RM11.27 million.

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