Vehicle upholsetry manfacrturer, Pecca Group Berhad will be purchasing a property in the form of a vacant leasehold industrial land from UMW Development Sdn Bhd for RM8.45 million.
The said land which is approximately 4.31 acres, is located at Serendah is part of the mixed industrial, commercial, and residential development known as UMW HVM Park, a high-value industrial development park developed specifically for high-value manufacturing activities in industries such as healthcare and automotive which the Company is involved in.
In a filing with Bursa Malaysia, Pecca said that the construction of the factory building will be in accordance with high-value designs and specifications in conformity with the requirements under the UMW HVM Park Master Plan. Thereafter, both parties will enter into a Mutual Covenants Agreement to maintain the common facilities and services at the industrial park for the parties’ mutual benefits.
Pecca’s MD Datuk Teoh Hwa Cheng said the purchase is for the proposed building of the company’s second manufacturing facility which is to increasecurrent production capacity to cater for future orders. Datuk Teoh added that ever since the lockdown was lifted orders had jumped double-fold pushing the limits at the current facility.
Seperately, the land acquisition is also in line with its strategy to enhance its operational efficiency by integrating the latest in Industry 4.0 enabled innovations and advanced manufacturing infrastructure. Pecca recently signed MOU with Malaysian Automotive Robotic and IoT Institute for the potential involvement in electric mobility.
The group has a market capitalisation of approximately RM637 million, it is the largest automotive leather upholstery player in Malaysia’s original equipment manufacturer (OEM) and pre-delivery inspection (PDI) passenger vehicle segments, and serves export markets such as Singapore, the US, the Netherlands, Australia, New Zealand, UK, Ireland and China.
