PETALING JAYA: BWYS Group Bhd is acquiring a parcel of freehold industrial land measuring 28.919 acres in Kuala Langat, Selangor from Compass IP Sdn Bhd for RM94.48mil.
In a filing with Bursa Malaysia, the sheet metal products manufacturer said the acquisition is to cater to (wholly-owned subsidiary) BW Scaffold Industries Sdn Bhd’s future operational expansion. BWYS said the new land is larger than the existing property that BW Scaffold is currently operating at.
The company said it intends to construct a new factory on the new land, which will consist of factory buildings, warehouses and centralised labour quarters that is expected to increase the operational capacity of the group.
“The new factory is intended to cater to BW Scaffold’s operations for the rental and supply of scaffoldings, manufacturing of sheet metal products such as polyurethane foam sandwich panels, roofing sheets and roof trusses as well as storage for the group’s steel materials.”
