PETALING JAYA: PRG Holdings Bhd
is acquiring freehold land measuring 2,060 sq m in Klang, Selangor from Time IT IN E (Pantai Timur) Sdn Bhd for RM6.1mil.
In a filing with Bursa Malaysia, the manufacturer of elastic textile, webbing and rubber tape-related products said the land comprised a single-storey semi-detached factory and a double-storey office building.
“The board of directors believe that acquiring the property offers strong strategic, operational, and financial advantages.
“The purchaser has rented the property for the past 15 years and has utilised it as a packaging area supporting its factory operations for the manufacturing of its products,” it said.
PRG said the property is located adjacent to its existing factory, making the acquisition highly synergistic and operationally efficient.
