PETALING JAYA: Coraza Integrated Technology Bhd
(CIT) said its wholly owned subsidiary, Coraza Systems Malaysia Sdn Bhd, has agreed to acquire an industrial property in Nibong Tebal, Penang, for RM13.5mil in cash from GB Plas Colours Sdn Bhd.
The property comprises a freehold industrial land parcel measuring approximately 8,669 sq m, together with a single- storey factory and a two-storey office building located in the Bukit Panchor industrial area.
The site is intended to support the group’s production and manufacturing activities.
CIT said the purchase price was based on a “willing-buyer, willing-seller” basis after considering the property’s market value of RM13.5mil, as assessed by an independent valuer, as well as its strategic location adjacent to the group’s existing plants in Nibong Tebal.
The acquisition will be funded through a combination of internally generated funds and bank borrowings.
Completion is expected in the third quarter of 2026.
