Thriven buys Penang land for RM21mil

has entered into a sale and purchase agreement with Star Sanctuary Land Bhd to acquire a 4,700 sq m freehold land for RM21mil.

In a filing with Bursa Malaysia, Thriven said its subsidiary, Bukit Punchor Development Sdn Bhd entered into the agreement with Star Sanctuary for the land in Butterworth, Penang. Thriven said the proposed acquisition at Butterworth, Penang marks the company’s extended effort to expand its business activities in the northern region.

“The proposed acquisition is expected to receive optimistic demand given the strategic location of the said land having easy connectivity and existing surrounding amenities. “The proposed acquisition is also anticipated to positively contribute to the future earnings of Thriven and its subsidiaries,” it said.

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