AME Elite buys 176 acres in Pontian for i-Park project

AME Elite Consortium Bhd is acquiring 176.45 acres of freehold agricultural land in Jeram Batu, Pontian, Johor, for RM199.8 million from Hak Soon Seng Plantation (M). RHB Research maintained its BUY call and raised its target price to RM2.33, saying the site could become another i-Park industrial development benefiting from the Johor-Singapore Special Economic Zone. The acquisition, funded internally, is expected to complete in the first half of 2027.