PETALING JAYA: Tien Wah Press Holdings Bhd
is proposing to acquire five parcels of land measuring approximately 23,393 sq m in aggregate, together with the buildings erected thereon, located in Malang, Indonesia, from PT Bentoel Prima for RM34.07mil.
In a filing with Bursa Malaysia, the company said the parcels of land will be acquired via its indirect 51%-owned subsidiary, PT Bintang Pesona Jagat (BPJ).
The proposed acquisition is expected to enable BPJ to continue operating from its existing production facility beyond the expiry of the current lease arrangements.
“The proposed acquisition is expected to support the continuity of BPJ’s existing operations and strengthen its ability to participate in future supply tenders.
“Nevertheless, the future performance of BPJ and the group will depend on, among others, the award and performance of customer contracts, market conditions, financing costs and the materialisation of risks,” the firm said.
