KUALA LUMPUR: Versatile Creative Bhd’s 51%-owned subsidiary, NSK Grocer (KL) Sdn Bhd, has proposed to acquire a leasehold land and building comprising a two-storey retail mall and basement carpark at Plaza Pelangi Astana in Petaling Jaya for RM25.85mil.

In a filing with Bursa Malaysia, Versatile said NSK entered into a sale and purchase agreement with Empire Benefit Sdn Bhd, which is currently undergoing liquidation, for the acquisition.

Versatile said the purchase price would be financed through a mix of internally generated funds and/or bank borrowings, with the exact allocation yet to be decided.

“The proposed property acquisition is in line with NSK’s strategic growth plan to expand its retail footprint in high-density and commercially strategic urban communities.

“The property’s location and configuration are suitable for enhancing operational capacity and long-term value creation,” it said.