Maybulk Bhd has announced plans to acquire a freehold industrial property in Klang, Selangor, for RM35.5 million as part of its strategy to diversify revenue streams. The proposed purchase involves an 8,346-square-meter site owned by Cross Protection (M) Sdn Bhd, which features a single-storey industrial building alongside an annex containing an office on the ground floor, warehouse spaces on the first and second floors, and a guardhouse.

In a filing with Bursa Malaysia, Maybulk outlined that the acquisition is a move to enter the industrial property sector, leveraging the group’s surplus funds to enhance returns. This strategy is intended to reduce reliance on its current core operations, which include shipping bulkers and providing storage and shelving solutions.

The company has previously focused primarily on maritime logistics and related services, and this new venture marks an expansion into real estate investment. By acquiring the Klang property, Maybulk aims to mitigate risks associated with its existing business segments while seeking stable income from industrial property assets.

The transaction remains subject to the necessary regulatory approvals and due diligence processes. If completed, the acquisition would represent a significant investment by Maybulk in the Selangor industrial real estate market.