Coraza buys factories for RM18mil


PETALING JAYA: Coraza Integrated Technology Bhd’s wholly-owned subsidiary, Coraza Systems Malaysia Sdn Bhd, is acquiring 8,538 sq m of freehold industrial land with offices and factories in Nibong Tebal, Penang, from Huhtamaki Foodservice Malaysia Sdn Bhd for RM17.69mil.

In a filing with Bursa Malaysia, Coraza said the purchase price of the acquisition will be funded by a combination of internally generated funds and bank borrowings.

The group said the property will immediately increase its manufacturing capabilities.

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