Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.
KUALA LUMPUR: Ajinomoto (Malaysia) Bhd
has proposed to build a manufacturing plant in Techpark@Enstek in Bandar Baru Enstek upon completion of the acquisition of land in the area for RM86.08mil cash.
The company said the 2.03 million sq ft tract, which belongs to Lembaga Tabung Haji and THP Enstek Development Sdn Bhd, will be developed into a manufacturing facility for its products and other facilities associated with its business.
"The Proposed Land Acquisition is in line with AMB’s long-term plans of growing its operations and expanding its manufacturing facilities to keep up with the growing demands for its products.
"The Company intends to develop and construct new manufacturing facilities on the Property that is expected to strengthen the efficiency and competency of the Company in providing quality products to customers," it said in a filing with the stock exchange.
Ajinomoto said that the development costs of the land are expected to be funded via internally generated funds and bank borrowings if required.
The proposed acquisition is expected to be completed by July 31, 2019.
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