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Dutch Lady to dispose of factory land in Petaling Jaya

Dutch Lady to dispose of factory land in Petaling Jaya

09 Sep 2020

Milk and dairy product manufacturer, Dutch Lady Milk Industries Bhd (DLMI) plans to dispose of its current factory land in Petaling Jaya via public tender.

This comes after the Board of Directors’ approval for DLMI to assess the prospects of a potential sale.

An independent real estate agent has been appointed to seek offers from the open market, said DLMI in a filing to Bursa Malaysia today.

“The final decision on the land sale will only be made after an assessment of the various scenarios is completed and an announcement relating to the sale will be made,” it said.

DLMI said it has obtained shareholders’ approval to purchase land in Bandar Enstek in Negri Sembilan to construct manufacturing facilities to keep up with the increasing demand for its products and new customer trends.

“It is too preliminary to ascertain when the construction works for the manufacturing facilities will commence since multiple scenarios are being evaluated,” it added.

Source: Bernama Posted on : 09 September 2020