YSP Industries to acquire Kajang properties for RM31mil

KUALA LUMPUR: Y.S.P. Southeast Asia Holding Bhd’s (YSPSAH) wholly-owned subsidiary, Y.S.P. Industries (M) Sdn Bhd (YSPI), is acquiring properties worth RM31 million from Onkyo Asia Electronics Sdn Bhd.

It said in a filing with Bursa Malaysia today that the properties comprised a plot of leasehold land and a factory complex together with a warehouse and other ancillary buildings in Kajang, Selangor.

YSPSAH said the acquisition would be satisfied via internally generated funds (15 per cent) and the rest from bank borrowings.

"After the completion of the exercise, the properties will be transformed into a manufacturing area and future expansion for the production of food and health supplements,” it said.

YSPI, which is engaged in the pharmaceutical business and the provision of management services, said it expects the acquisition to be completed within three months of the sales and purchase agreement. - Bernama