KUALA LUMPUR: Frontken Corporation Bhd
’s subsidiary, Ares Green Technology Corporation, is acquiring industrial land and the factory buildings erected thereon in Tainan City, Taiwan, from Ginwin Technology Co Ltd for RM118.16 million.
Ginwin Technology is a 53.45 per cent-owned subsidiary of Taiwan-based company, Enlight Corporation.
Frontken said the property is currently utilised as a thin-film-transistor liquid-crystal display colour filter recycling facility. The property is 16,172 sq m of industrial land with seven existing factory buildings.
"The acquisition is expected to be completed by the fourth quarter of 2026,” it said in a filing with Bursa Malaysia.
Frontken said Ares Green currently anticipates commencing the first phase of the construction of new production lines in the first half of 2027 with an estimated investment of approximately NT$620 million (RM79.6 million).
"The first phase of the construction is expected to take approximately one to 1.5 years, and Ares Green intends to implement the subsequent phases progressively, taking into consideration its business requirements and customer demand,” it added. - Bernama
