KUALA LUMPUR: Coraza Integrated Technology Bhd
is acquiring an industrial property in Nibong Tebal, Penang, for RM13.5mil cash to support the expansion of its production and manufacturing activities.
In a filing with Bursa Malaysia, the integrated engineering solutions provider said its wholly-owned subsidiary Coraza Systems Malaysia Sdn Bhd had entered into a sale and purchase agreement with GB Plas Colours Sdn Bhd for the acquisition.
The freehold property comprises a parcel of industrial land measuring 8,669 sq m together with a single-storey factory and a two-storey office building located at Lorong Industri 3, Kawasan Industri Bukit Panchor, Nibong Tebal.
“The acquisition is a strategic move for Coraza and its subsidiaries, given the property’s prime location adjacent to the Group’s existing Nibong Tebal plant,” it said.
It added that the acquisition would eliminate the need to lease additional facilities to support future expansion, reducing exposure to leasing-related risks and avoiding potential sunk costs.
Coraza said ownership of the property would also provide greater operational control, enhance workforce support and improve overall logistics efficiency.
It said the purchase price for the acquisition will be funded by a combination of internally generated fund and bank borrowings.
Barring unforeseen circumstances, the acquisition is expected to be completed in the third quarter of 2026.
