KUALA LUMPUR: Vortex Consolidated Bhd has entered into a conditional sale and purchase agreement with developer Aset Kayamas Sdn Bhd to acquire 187 units of serviced apartments worth RM246.35 million in an ongoing development in Genting Highlands.

       In a stock exchange filing to the stock exchange, the information technology and property construction company, which has just diversified into the money-lending business, said its proposed acquisition of the freehold Antara@Genting Highlands would expand the group's property portfolio.

       The company said it has been "continuously seeking business opportunities to expand the group’s property portfolio for property investment segment through acquisitions of companies.”

       The company added that the bulk purchase comes with an en-bloc discount.

       Currently, the group’s property portfolio comprises a mix of commercial and residential properties, and it is "actively seeking land banks and/or properties to earn recurring rental income” as well as for capital appreciation purposes.

       This would, in turn, contribute positively to the group’s earnings, improve its cash flow position, and enhance its financial performance in the mid to long term, the filing said. - Bernama