KUALA LUMPUR: Paragon Globe Bhd
’s wholly owned subsidiary, Paragon Bizhub Sdn Bhd, has inked a deal to build and design Shimano Components (Malaysia) Sdn Bhd’s new factory in Pekan Nenas, Johor.
The manufacturing factory is expected to be completed in 2024, it said in a filing with Bursa Malaysia today.
It said Shimano, a Japanese multinational producer of bicycle components and fishing equipment, purchased two units of the single-storey detached factory with a double-storey office in Pekan Nenas Industrial Park with a built-up area of approximately 12,573.77 square metres (sqm) and land area measuring approximately two hectares for RM45 million.
Shimano managing director Chia Chin Seng said these two units complement Shimano’s existing manufacturing facility in Pekan Nenas and it would continue to invest.
"This transaction marks another milestone in Shimano’s portfolio and is in line with the company’s growth and expansion,” he said.
Meanwhile, Paragon executive chairman Datuk Seri Edwin Tan Pei Seng said the company aimed to foster a good business relationship with Shimano and the collaboration demonstrated the confidence of Shimano in Paragon’s capabilities to provide a well-planned industrial project. - Bernama
