Pensonic new office in Bukit Minyak, Bukit Mertajam yesterday. - Starpic Mustafa Ahmad (30/10/2015)/
KUALA LUMPUR: Pensonic Holdings Bhd
has bought two adjacent pieces of land in Klang as it seeks to expand its warehousing and office operations to cater to the southern and central regions as well as its export markets.
The Penang-based electrical home appliance maker said the freehold lands, spanning a total of 25,127 sq metres at Taman Perindustrian Worldwide Kapas Bestari, were purchased from Worldwide Holdings Bhd’s subsidiary Cekal Unggul Sdn Bhd for RM20.07mil.
Pensonic plans to build a new warehouse and office block there, it told Bursa Malaysia on Tuesday.
This would lead to savings on warehouse rental cost and allow it to consolidate operations in one location, it said.
“The close proximity of the lands to Port Klang, Selangor, is strategic and would complement business operations going forward,” the company added.
The purchase price was arrived at on a willing-buyer willing-seller basis after considering the selling price for lots on the Taman Perindustrian Worldwide Kapas Bestari development, where interested purchasers have bought at about RM74 per sq ft.
No valuation was carried out prior to the purchase, it said.
Pensonic said the purchase price would be satisfied through internally generated funds and bank borrowings.
“The exact mix of internally generated funds and bank borrowings will be determined by the management of the Pensonic group at a later stage after due consideration of the group’s gearing level, interest costs and internal cash requirements for its business operations,” it said.
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