PETALING JAYA: LB Aluminium Bhd
is acquiring a parcel of leasehold industrial land in Banting, Selangor from Lucksoon Coatings Sdn Bhd for RM22mil.
In a filing with Bursa Malaysia, it said the proposed acquisition would enable the group to establish an additional source of recurring income and benefit from potential capital appreciation of the property.
“The property is a parcel of industrial land erected with an industrial complex comprising three adjoining single-storey detached factories, a double-storey office building, an open sided single-storey factory, three open sided stores and a guard house.”
The group had also inked a three-year tenancy agreement to rent out the property to a related company to the vendor Lucksoon Metal Works Sdn Bhd with a monthly rental of RM116,000.
