PETALING JAYA: Minho (M) Bhd is acquiring a 4.3-acre parcel of land in Jeram, Kuala Selangor for RM3.66mil to construct a covered warehouse.
Upon completion, the warehouse will be used to store sawn timber belonging to Minho’s wholly-owned subsidiary Victory Enterprise Sdn Bhd (VESB). The facility would also be rented out.
In a stock exchange filing yesterday, Minho announced that VESB had on Feb 7 entered into a sale and purchase agreement with an individual named Khoo Beng, who owns the freehold land located in an industrial zoning area.
Minho said the purchase consideration of RM3.66mil was determined based on a “willing buyer-willing seller” basis.