ViTrox to buy land in Penang


In its exchange filing, the technology company said its wholly owned subsidiary ViTrox Technologies Sdn Bhd had entered into a sale and purchase agreement with the Penang Development Corp for the proposed acquisition.

PETALING JAYA: Vitrox Corp Bhd has proposed to acquire a 21.03-acre parcel of land in Batu Kawan Industrial Park in Penang for RM48.3mil as part of its 10-year expansion master plan scheduled to be fully completed by 2030.

In its exchange filing, the technology company said its wholly owned subsidiary ViTrox Technologies Sdn Bhd had entered into a sale and purchase agreement with the Penang Development Corp for the proposed acquisition.

ViTrox said the proposed acquisition would be funded via bank borrowings and/or internally-generated funds.

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ViTrox Corp , buy , land , Penang , technology , bank borrowings ,

   

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