PWF buys land for expansion

The agricultural land parcels are zoned for industrial use and the vendor intends to apply to convert it to the latter, PWF said in a filing with Bursa Malaysia.

PETALING JAYA: PWF Corp Bhd’s wholly owned subsidiary, PWF Feeds Sdn Bhd, is buying two pieces of freehold land at KIIP Kapar 2, measuring 2.774 acres each, in Jeram, Kuala Selangor for RM18.12mil from Klangrealty Consortium Sdn Bhd.

The agricultural land parcels are zoned for industrial use and the vendor intends to apply to convert it to the latter, PWF said in a filing with Bursa Malaysia.

The purchase will be funded with internally generated funds and bank borrowings, PWF said, adding that the land is meant for its future expansion.