Farm Fresh Bhd announced that its wholly-owned subsidiary, The Holstein Milk Company (M) Sdn Bhd (“THMCM”), has acquired 8.05316 acres of land in Bandar Baru Enstek, Daerah Seremban, Negeri Sembilan, Malaysia for RM18.241 million from THP Enstek Development Sdn Bhd (THPED)
The purchase consideration will be paid with a earnest deposit 2% orRM364,827 was paid on May 25 and the balance deposit of Rm1.459 million was paid by THMCM to THPED upon the execution of the Agreement and RM16.417 million within three months from the date of the receipt of the solicitors of THMCM.
FFB plans to use the land for the establishment of a new manufacturing hub in the greater central region of Peninsular Malaysia to increase FFB’s existing production capacity for dairy and plant-based products, and new adjacent product offerings.
The Land is strategically located in the Central Region of Peninsular Malaysia, which will enable FFB to improve its cost-efficiency by reducing transportation costs as the new manufacturing hub will be closer to its customers in Klang Valley.
