QES to acquire Batu Kawan industrial land for expansion

KUALA LUMPUR: QES Group Bhd's subsidiary QES Mechatronic Sdn Bhd has entered into a conditional sales and purchase agreement with Penang Development Corp to acquire an 87,120 sq ft tract at Batu Kawan Industrial Park in Penang for RM4.79mil cash.

It said in a statement that the purchase consideration, to be funded via internally generated funds or bank borrowings, was based on the industriaal park's land value of RM55 psf.