PETALING JAYA: MCE Holdings Bhd
’s indirect 51%-owned subsidiary, Eagle MCE Technologies (Malaysia) Sdn Bhd, has entered into a sale and purchase agreement to acquire a freehold industrial property in Pontian, Johor for RM9.99mil.
In a filing with Bursa Malaysia, it said that land measuring approximately 57,571.63 sq ft will be acquired from Paragon Bizhub Sdn Bhd.
“This will provide Eagle MCE with sufficient industrial factory space will support its long-term expansion plans and enhance its manufacturing capabilities in both automotive and non-automotive segments.”
Furthermore, MCE said the acquisition will be funded through a combination of bank borrowings and internally generated funds, with the financing mix expected to comprise approximately 60% borrowings and 40% internal funds.
