IN line with its plan to centralise and integrate its battery production and recycling facilities in one location, Tai Kwong Yokohama Bhd is seeking the approval of shareholders, at its EGM in Kuala Lumpur today, for the acquisition of four pieces of leasehold industrial land from Malaysian Topmaking Mills Sdn Bhd.
In a circular to shareholders, the company said the acquisition of the four land parcels totalling 35.8 acres and buildings in Semenyih for a cash consideration of RM27mil would be made through wholly-owned subsidiary Tai Kwong-Yokohama Battery Industries Sdn Bhd.