VS Industry to acquire land for RM99mil

“Notwithstanding the recent wins, VS Industry remains busy in negotiations with prospective customers and continues to pursue sales leads arising from the trade dispute, ” it said. (File pic shows VS Industry's plant Senai.)

KUALA LUMPUR: VS Industry Bhd has entered into sale and purchase and construction agreements with Ipark Development Sdn Bhd to acquire six tracts of land with industrial buildings in Johor Baru and Kulai for RM98.77mil.

Ipark Development is an 80%-owned subsidiary of AME Integrated Sdn Bhd, which in turn is 99.9% owned by AME Elite Consortium Bhd, according to VS Industry’s filing with Bursa Malaysia.