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.
Pecca Leather and Saraya entered into a sale and purchase agreement yesterday. The purchase consideration was arrived based on the price of RM64 per sq ft.
In a filing with Bursa Malaysia, Pecca said the purchase would 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. The acquisition is expected to be completed by the last quarter of 2025
