P.A. Resources buys factory land for RM21mil

PETALING JAYA: P.A. Resources Bhd is proposing to acquire two parcels of industrial land in Pekan Batang Berjuntai, Selangor from Niken Steel (M) Sdn Bhd for RM21mil.

In a filing with Bursa Malaysia, P.A. Resources said the acquisition of the two parcels of land, totalling 18 acres, will be funded via internal generated funds and bank borrowings.

“P.A. Resources will build a new factory on the said land, which will double its production capacity, in phases, from 3,200 tons a month to approximately 7,000 tons.”