Datasonic walks away from PJ factory, takes two in debt deal

Datasonic Group Bhd, the MyKad and passport supplier formerly called NexG Bhd, has walked away from its RM28.5 million purchase of a factory at No. 32, Jalan 223, Petaling Jaya, because the seller never obtained a Bomba fire certificate. Its subsidiary Datasonic Technologies Sdn Bhd sent the termination notice on 7 October 2026, 15 months after signing. Two days later Datasonic agreed to take over two factories on Jalan 51A/223, on the same road, from AIMAX Bhd to settle a debt.

The deal that fell through

• Property: No. 32, Jalan 223, 46100 Petaling Jaya (HSD 173078 PT 32, Bandar Petaling Jaya), with a two-storey factory, a three-storey office block, a two-storey warehouse and a guardhouse. EdgeProp's EPIQ map places it on Jalan 51A/223, beside Sungai Penchala
• Land: 6,182.5 sq m (about 66,548 sq ft), industrial, on a 99-year lease to 9 July 2069; charged to Hong Leong Bank
• Price: RM28.5 million, about RM428 psf of land, and 11.76% above the RM25.5 million that Jones Lang Wootton valued it at in January 2025 for the seller's own accounts (about RM383 psf)
• Seller: Pixio Sdn Bhd, a printing-services company set up in 2008 and owned by Singapore-listed mDR Ltd, whose directors include Ong Ghim Choon, Alexander Lim Jit Huang and Edward Lee Ewe Ming. Pixio bought the property in a 2016 sub-sale; the buildings were certified fit for occupation in 2012
• Conditions: Pixio had to obtain the Certificate of Fitness or Certificate of Completion and Compliance, and a Bomba fire certificate or licence, within three months (it expected them by 9 October 2025), or later if both sides agreed
• The end: Datasonic cited the missing Bomba approval. Pixio must refund the RM2.85 million deposit within 14 days, after which neither side has any claim on the other
• Why Datasonic wanted it: it is two blocks from Datasonic's manufacturing plant at Lot 20A, Jalan 223, a three-storey office with a warehouse on 46,685 sq ft that it has owned since 2013, and would have let it bring research, design and production together

Two factories on Jalan 51A/223 instead

On 9 October Datasonic agreed to buy Premiumway Development Sdn Bhd for RM14.12 million and IF Security Solution Sdn Bhd for RM1 million from AIMAX Bhd (formerly Hong Seng Consolidated), with completion expected in the fourth quarter of 2026.

• Lot 5, Jalan 51A/223: a two-storey detached factory with a four-storey office, about 62,485 sq ft of floor area on 42,009 sq ft of land, leased to November 2067. It is AIMAX's head office today
• Lot 7, Jalan 51A/223: a two-storey detached factory with a three-storey office, about 14,810 sq ft of floor area on 10,883 sq ft of land, leased to April 2065, partly let at RM20,000 a month
• Value: Laurelcap, appointed by AIMAX, valued the pair at RM53.8 million on their current leases, or RM61.2 million if a pending application to extend both leases to 99 years is approved. Datasonic will appoint its own valuer
• How it is paid: AIMAX owes Datasonic's moneylending subsidiary MMR Capital Sdn Bhd RM54 million. After a RM2.02 million interest waiver, RM50.92 million is set off through the two share purchases and Premiumway's RM36.8 million advance from AIMAX, and AIMAX pays the last RM0.57 million in cash. Datasonic also takes on Premiumway's RM8.22 million Public Bank loan and spends no cash
• The plan: IF Security Solution, set up in May 2026, is to run a smart-card personalisation business from the two buildings, alongside Datasonic's own card work

The numbers

• No. 32, Jalan 223: RM28.5 million on 66,548 sq ft of land, about RM428 psf
• Lots 5 and 7, Jalan 51A/223: RM61.2 million on 52,890 sq ft of land (RM53.8 million on the current leases), about RM1,160 psf of land or RM790 psf of the 77,295 sq ft of floor area. These values come from the seller's valuer, and the buildings are larger for their land than at No. 32

Map: EPIQ, via EdgeProp.