PETALING JAYA: Rhong Khen International Bhd is acquiring three industrial properties in Kapar, Selangor, for RM47mil cash.
In a filing with Bursa Malaysia, the integrated household furniture manufacturer said its wholly owned subsidiaries, Uptown Promenade Sdn Bhd and Latitude Tree Furniture Sdn Bhd, had entered into sale and purchase agreements with Hsin Foong Manufacturer Sdn Bhd and Kelana Sempurna Sdn Bhd.
The properties comprise factory and office buildings located along Jalan Kapar, with built-up areas of about 108,000 sq ft, 99,000 sq ft and 110,000 sq ft, respectively.
It said the acquåisition would be funded via a combination of internally generated funds and bank borrowings, adding that the proposed acquisition is part of its strategy to consolidate its local furniture manufacturing operations.
