PETALING JAYA: Oriental Kopi Holdings Bhd
, via its indirect wholly-owned subsidiary Oriental Coffee International Sdn Bhd, is acquiring a parcel of leasehold land in Puchong, Selangor from Icon Facade Sdn Bhd for RM23mil.
In a filing with Bursa Malaysia, Oriental Kopi said the land measures 5,262 sq metres, with a factory lot erected on it.
“The vendor of the property had indicated their intention to dispose of the property, which is currently rented by the group as head office and warehousing facility.
“The group can leverage on the strategic location of the property to support the ongoing operations, minimise the disruption and associated costs and at the same time, support the future growth prospects of the group.”
Oriental Kopi said the proposed acquisition also eliminates the risks of rental hikes, non-renewal, or landlord-related constraints.
“It offers long-term security and ownership over the property.”
