KUALA LUMPUR: Feytech Holdings Bhd’s (FHB) wholly-owned subsidiary, Feytech Sdn Bhd has proposed to acquire a 9.76 acres freehold industrial land in Perak for RM19.98mil.
In a filing with Bursa Malaysia, FHB said Feytech entered into a sale and purchase agreement with Proton City Development Corporation Sdn Bhd for the proposed acquisition.
“The company and its subsidiaries are principally involved in the manufacturing and sale of automotive seats and automotive covers, serving major automotive manufacturers globally. The purpose of the proposed acquisition is to establish a new manufacturing facility,” FHB said.
It is stated that the proposed acquisition aligns with the group's strategy to boost production capacity for automotive seats and covers, meeting the increasing demands of the automotive industry and facilitating future expansion.
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