KUALA LUMPUR, Nov 18 — IGB Bhd, through its wholly owned indirect subsidiary Bintang Sentral Sdn Bhd (BSSB), will acquire two freehold land parcels totalling 9.83 hectares in Bandar Meru Raya, Perak, for RM43.65 million.

It said the acquisition is conditional upon approval from the Malaysian Ministry of Economy and the state authority for land transfer to BSSB, which is expected to be obtained within six months of signing the sale and purchase agreement.

“Unless unforeseen circumstances arise, the acquisition is anticipated to be completed in the second half of 2026,” it said in a statement.

IGB stated that the acquisition would enhance IGB’s presence in Perak, providing the company with a foundation to capitalise on the future growth and success in the state.

It said that the site is well-suited for a commercial mixed-use development, aligning perfectly with its long-standing expertise in its core businesses.

“The site, previously occupied by Movie Animation Park Studios, is highly advantageous as it already has supporting infrastructure in place.

“The land parcels are strategically located along the North-South Expressway (NSE), offering prominent frontage views from the highway, favourable connectivity to the Ipoh North Toll Plaza and easy access for commuters,” it added. — Bernama