KUALA LUMPUR: Cropmate Bhd said its indirect wholly-owned subsidiary Cropmate Fertiliser Bintulu Sdn Bhd has proposed to acquire a 1.6ha parcel of vacant industrial land in Kidurong Industrial Area Phase II, (KINDA II) in Bintulu, Sarawak, for RM12mil.
In a filing with Bursa Malaysia, the group said the land will be used for a fertiliser factory for the formulation and blending of conventional and speciality fertilisers as well as for warehousing of straight fertilisers and related products.
It said the land is strategically located near Bintulu Port, providing a logistical advantage, particularly in reducing transport and distribution costs for raw materials and finished products.
"The establishment of the factory will enable the group to improve supply efficiency, shorten delivery
lead times, and better serve customers across East Malaysia.
"In addition, this expansion enhances the Group’s competitiveness in the East Malaysia market, which in turn supports long-term business growth and increase market share of the group."
The proposed acquisition is expected to be completed
