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PETALING JAYA (Aug 20): TSiC Bhd has completed its RM1.35 million acquisition of two industrial land parcels in Taman Perindustrian Bukit Rambai, Melaka, from three of its directors.
In a Bursa Malaysia announcement on Thursday (Aug 20), the LEAP Market-listed company said its wholly-owned subsidiary BPE Synergy Engineering Sdn Bhd (BPESE) had fully settled the balance purchase consideration, with its solicitors confirming the payment on Aug 19.
The acquisition comprises two contiguous industrial parcels — Lot 8063 and Lot 8065 — along Jalan Nobat 9 in Mukim Tanjong Minyak, Melaka Tengah. The vendors are TSiC managing director and chief executive officer Dr Ir Lim Chot Hun, executive director and general manager Muhammad Danish Chan Bin Abdullah, and non-independent non-executive director Ong Jun Yao.
Ong is also a major shareholder of TSiC. The acquisitions were classified as related-party transactions because of the vendors’ interests in the company.
Lot 8063 is a 20,774 sq ft freehold industrial plot, while Lot 8065 is an 86 sq ft industrial parcel with a 99-year leasehold interest expiring on Sept 26, 2102. BPESE had been leasing the land from the vendors for RM3,000 a month.
TSiC plans to build a three-storey factory, office and warehouse on the land to expand BPESE’s in-house printed circuit board repair, assembly and testing operations. Construction was estimated to cost RM3.81 million and targeted for completion in the third quarter of 2027, subject to the necessary approvals.
The company had said owning the land would give it greater control over the planned facility, eliminate rental payments and remove potential conflicts of interest arising from the related-party leasing arrangement.
The sale and purchase agreements were signed on Aug 22, 2025. The land was independently valued at RM1.35 million as at July 24, 2025.
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