KUALA LUMPUR, May 17- OpenSys (M) Bhd has entered into a sale and purchase agreement with Terra Minus Sdn Bhd, formerly known as Mammoth Empire Property Sdn Bhd, to buy an office lot, with a total area of about 851 sq. m. occupying the entire floor at level 26 of Pinnacle Petaling Jaya commercial complex in Petaling Jaya, Selangor for RM7.76 million.
OpenSys said the company will be relocating its headquarters and principal place of business to the new office, once the place is completed in about 42 months from the date of the agreement, from its currently rented premises at level seven, Menara Axis in Petaling Jaya.
“The acquisition will be partly funded by internally generated funds of RM1.16 million and bank borrowings of RM6.60 million,” it said in a filing to Bursa Malaysia today.
On prospects, it said the company foresees that the value of the property will appreciate in future thus strengthening its financial position.
– BERNAMA
