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JTB’s subsidiary to acquire land in Klang for RM44 mln

JTB’s subsidiary to acquire land in Klang for RM44 mln

15 Sep 2020

Johore Tin Bhd’s (JTB) wholly-owned subsidiary, Able Dairies Sdn Bhd, has entered into a sale and purchase agreement with Golden Valley Industries Sdn Bhd to acquire a piece of land in Klang, Selangor measuring approximately 11.74 hectares for RM44.26 million.

“The acquisition will be funded from internally generated funds and/or bank borrowings to be decided by the executive directors at a later stage, after taking into consideration its gearing level, interest costs as well as internal cash requirements for its business,” it said in a filing with Bursa Malaysia today.

It said the acquisition is part of the company’s business expansion and development plan to expand and consolidate factories, facilities and production line for operational efficiency and efficacy.

It added that the company intends to build factories, warehouses and offices at the lot.

Source: BernamaPosted on : 15 September 2020