PETALING JAYA: Pecca Group Bhd
's unit, Pecca Leather Sdn Bhd, is acquiring a piece of leasehold vacant industrial land in Serendah, Selangor for RM17.43mil.
Measuring 25,349.51 sq m, the land will be purchased from Saraya Glove Industries Sdn Bhd. Both Pecca Leather and Saraya entered into a sale and purchase agreement yesterday.
The purchase consideration of RM17.43mil was arrived based on the price of approximately RM64 per square foot.
In a filing with Bursa Malaysia, Pecca said the purchase will be financed by internally generated funds and external borrowings.
"The acquisition is for the company to build and construct for manufacturing facility for its operations.
"This would enable us to significantly increase our manufacturing and production capacity to cater for future orders," it said.
