KUALA LUMPUR: UMediC Group Bhd
said its wholly-owned subsidiary UWHM Sdn Bhd is setting up a new manufacturing facility on a newly leased 3.06-acre tract in Batu Kawan Industrial Park in Seberang Perai Selatan, Pulau Pinang.
In a filing with Bursa Malaysia, the group said its subsidiary has inked has signed a 60-year lease with Penang Development Corp for RM12.14mil cash, which includes sales and service tax.
UMediC said it is looking to expand its production capacity as its existing manufacturing plant in Batuk Kawan Industrial Park has reached a utilisation rate of about 80%, and is expected to hit full capacity in the medium term.
The new facility will cater for the expansion of its existing medical consumables business as well as for future medical and life science business activities to be undertaken by the group.
Subject to obtaining the requisite approvals from the authorities, the new construction of the new facility is expected to commence in the second half of 2027, and be completed by the first half of 2029.
The construction costs are to be funded via a mix of internally-generated funds and bank borrowings.
