SINGAPORE (Oct 5): ABR Holdings, the operator of Swenson’s chain of restaurants, is acquiring its second land plot in Kuala Lumpur, Malaysia, for about RM4.95 million ($1.59 million).

The location of the land is adjacent to the group’s first land plot acquired on Sept 20 for about RM3.56 million.

The land has a leasehold interest of 99 years expiring on June 30, 2068 and has an area of around 1,533.5 sqm.

ABR Holdings the acqusiition agreement was signed between ABR's indirect associated company, ABR CCH Land and seller Cheng Chin Heng.

The purchase consideration was arrived at based on a willing buyer-willing seller basis taking into account prevailing market rates and will be funded by internal funds.

Shares in ABR Holdings last traded at 82 cents on Thursday.