HHRG Bhd announced its acquisition of the entire equity interest of Kulim Property Sdn Bhd (KPSB) through its subsidiary, HH Properties Kulim Sdn Bhd (HHPK), for RM4.5 million.

KPSB stands as the owner of a notable portfolio consisting of 55 subdivided land plots located within Kulim, Kedah.

The purchase consideration will be paid in two parts, and the completion date is expected by March 31, 2024.

The acquisition aims to increase HHRG's land bank and diversify into property development.

It's not expected to significantly impact HHRG's current financials but is expected to contribute positively in the future.