Hong Seng to lease land, to invest RM1.5bil in nitrile butadiene latex plant

KUALA LUMPUR: Hong Seng Consolidated Bhd's wholly-owned subsidiary Hong Seng Industries Sdn Bhd (HSI) has entered into an agreement with Northern Corridor Implementation Authority (NCIA) to sublease an industrial land located in the Kedah Rubber City (KRC), Padang Terap, Kedah for RM44.69 million.

"The agreement will allow the company to lease the 503.31 hectares of industrial land in KRC for a period of 60 years, with an option to renew for a further 30 years,” Hong Seng said in a filing to Bursa Malaysia today.