Zul Rafique & Partners advised Seriemas Development on RM61.95 Million Land Divestment in Klang
The prominent Malaysian full-service law firm, Zul Rafique & Partners advised and acted for Seriemas Development Sdn. Berhad, the property arm of Permodalan Nasional Berhad (PNB Group), in its land divestment exercise involving 15.64 acres of freehold industrial land in Mukim Klang, Daerah Klang, Selangor, to H&A Holdings Sdn. Bhd. and HML Development Sdn. Bhd. (H&A Group).
The transaction involves the proposed disposal of the land for a total consideration of RM61.95 million, subject to the relevant approvals, including approval from the Economic Planning Unit, being obtained within the agreed completion timeline.
The Sale and Purchase Agreements are inter-dependent, as the land parcels are intended to be sold on an en bloc singular basis rather than as separate individual transactions.
The divestment forms part of PNB Group’s broader strategic objectives to monetise its land banks, facilitate intended development, and optimise value by positioning the site as an attractive development opportunity with strong potential to attract purchasers and investors.
The Zul Rafique & Partners team was led by Ainal Marlinda Md Said (Partner), together with Wan Anis Yasmine Binti Wan Ismail (Senior Legal Associate) and Suresh A/L Shanmugan (Associate) from the Corporate Real Estate Practice Group.
Zul Rafique & Partners (ZRp) is a prominent, large, full-service Malaysian law firm based in Kuala Lumpur, founded in 1999 by Dato’ Zulkifly Rafique. The firm offers comprehensive commercial legal services with specialized practice groups for corporate, dispute resolution (including cross-border arbitration), energy, and more, and is known for its solution-oriented approach and dynamic growth in handling complex legal matters for corporate and individual clients.
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