Minho unit to acquire Jeram land for RM18.41mil

KUALA LUMPUR: Minho (M) Bhd's wholly-owned subsidiary Syarikat Minho Kilning Sdn Bhd has entered into a sales and purchase agreement with Kheng Joo Realty Sdn Bhd and Kin Seng Properties Sdn Bhd to acquire a tract of freehold land measuring 7.8433ha in Jeram, in Kuala Selangor, Selangor, for RM18.41mil cash.

In a filing with Bursa Malaysia, Minho said the land will be acquired with vacant possession and free of all encumbrances.

It said its unit will construct factories and covered warehouses as part of its long-term plans to relocate some of its operations and existing tenants from its current location at Jalan Sungai Puloh, off 6th Miles, Jalan Kapar, to the land.

The acquisition of expected to be completed within four months from the date of the sales and purchase agreement.