SEGi to lease Subang Jaya space from HCK in related party deal
Published on 08 Jul 2020. | Source: theedgemarkets.com
KUALA LUMPUR (July 8): SEG International Bhd (SEGi) said it has agreed to lease space in HCK Capital Bhd's upcoming project in Subang Jaya for the expansion of SEGi College Subang Jaya.
This is a related party transaction as both SEGi and HCK have a common director and shareholder, Tan Sri Clement Hii Chii Kok.
In a filing today, SEGI said the space comprises an indoor area of 141,253 sq ft and outdoor area of 7,020 sq ft in one of four towers and part of the podium of Edumetro @ Subang Jaya.
Edumetro @ Subang Jaya, comprising commercial, retail and educational components, is expected to be completed by June 2022.
SEGi said the total rental amount will be RM58.63 million for the tenure of 12 years.
SEGi’s share price closed unchanged at 60.5 sen, valuing the company at RM743.78 million, while HCK fell one sen or 0.83% to RM1.20 for a market capitalisation of RM508.97 million.
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