KUALA LUMPUR: TIME Dotcom Bhd has proposed to acquire a 13-storey purpose-built office building together with 95 car park bays from the Employees Provident Fund Board (EPF) for RM62mil cash

       In a filing with Bursa Malaysia, Time said its wholly owned subsidiary, AIMS Data Centre Sdn Bhd (ADC) had entered into a conditional sale and purchase agreement (SPA) with the EPF for the proposed acquisition of Bangunan KWSP Changkat Raja Chulan.

       “The proposed acquisition will enable TIME to increase space for expansion of operational facilities.

       “The management of TIME is of the view that Bangunan KWSP is in good condition to cater for such operational requirements,” it said.

       TIME said the purchase consideration for Bangunan KWSP of RM62mil had been arrived at on a willing buyer willing seller basis after taking into consideration the market value as appraised by two independent registered valuers, whereby the purchase consideration is within the range appraised.

       “The purchase consideration will be satisfied in cash via internally-generated funds,” it added.