MQ Tech to acquire Klebang land for RM19.5mil

MQ Tech said the proposed acquisition was an integral part of its plan to diversify into the property business, as it has seen increasing challenges in its manufacturing business.

PETALING JAYA: Mould manufacturer MQ Technology Bhd (MQ Tech) is acquiring a piece of 7.16-acre land in Klebang, Melaka, through its wholly-owned subsidiary Star Acres Sdn Bhd (SASB), for a consideration of RM19.5mil from property developer Cash Support Sdn Bhd (CSSB).

In a filing with Bursa Malaysia yesterday, MQ Tech said the proposed acquisition was an integral part of its plan to diversify into the property business, as it has seen increasing challenges in its manufacturing business, including intensifying competition which resulted in the group registering losses in the recent few financial years.