PETALING JAYA: KPS Consortium Bhd
is acquiring leasehold land measuring 16,363 sq m in Klang, Selangor from Pelangi Technowood Sdn Bhd for RM30mil.
The building materials firm said the land acquisition, which has a single factory erected thereon, is “meant for investment purposes.”
KPS Consortium said the acquisition shall be satisfied in cash and proposed 60% bank borrowings.
“The acquisition is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ direct and/or indirect shareholdings of the company for the financial year ending Dec 31, 2025.”
For its first quarter ended March 31, 2025, KPS Consortium’s net profit dipped to RM79,000 from RM3.67mil in the previous corresponding period, while revenue dropped to RM219.37mil from RM305.41mil a year earlier.
The company said the paper milling division’s turnover was RM2mil lower than the previous corresponding three months period of RM6.5mil.
