PETALING JAYA: Kimlun Corp Bhd
is acquiring two adjacent parcels of freehold land totalling 1.883 ha in Kulai, Johor from Pang Tin @ Pang Yon Tin (a director and substantial shareholder of the company) for RM3.65mil.
In a filing with Bursa Malaysia, the engineering and construction services provider said the proposed acquisition aims to provide the group with additional storage area for construction materials and machinery for its construction projects located in the northern part of Johor Baru.
Kimlun said the acquisition is not expected to have a material effect on its earnings per share and net assets per share. It added that the acquisition will not have any effect on its gearing as the purchase price will be satisfied wholly in cash from internal funds.
