SWS Capital Berhad (KLSE:SWSCAP) is looking for acquisitions. SWS Capital is planning to diversify and expand into the property sector. The company plans to raise approximately MYR 180 million through a rights issue to fund its new ventures.

The company expects that its foray into property businesses will contribute significantly to the net profits of the group, surpassing the 25% threshold. In line with its expansion plans, SWS Capital intends to enter into a memorandum of understanding for a proposed joint development project. The collaboration aims to develop two blocks of commercial buildings as part of a mixed development project in Sungai Buloh, Selangor.

Moreover, the company aims to strengthen its presence in the property sector through strategic acquisitions. SWS Capital is set to acquire real properties and an investment holding company that owns industrial properties from a related company, for a total consideration of MYR 61.61 million. These acquisitions will contribute significantly to the company's expansion in the property segment.

The proposed acquisitions include a leasehold industrial land in Pasir Gudang Industrial Area, Johor, with warehouse and office facilities, another leasehold industrial land in Klang, Selangor, which is currently vacant, and a company that owns five adjoining parcels of freehold industrial land in Nilai Inland Port, Negri Sembilan, also currently vacant. The company intends to utilise approximately MYR 161.61 million of the proceeds to fund the proposed joint development and proposed acquisitions.