Berjaya Starbucks acquires unit in Times Square for RM17m
Published on: Saturday, August 06, 2016
Kuala Lumpur: Berjaya Food Bhd's wholly-owned subsidiary, Berjaya Starbucks Coffee Company Sdn Bhd will acquire a freehold commercial unit in Berjaya Times Square from Deru Klasik Sdn Bhd for RM17.469 million.In a filing to Bursa Malaysia, Berjaya Food said Berjaya Starbucks was currently renting the property to carry out its 'Starbucks Coffee' café business.Stay up-to-date by following Daily Express’s Telegram channel.
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"The acquisition will enable the group to mitigate future hike in rental as well as benefit from future capital appreciation. ADVERTISEMENT "It would also represent an opportunity for the group to own the property in a strategic location in an established shopping complex at an attractive price," it said, adding that the acquisition was expected to be completed by year-end. – Bernama