Minho (M) Berhad (Minho), through its wholly owned subsidiary, Syarikat Minho Kilning Sdn Bhd had purchased a freehold land measuring 7.8433 hectares in Kuala Selangor for RM18.4 million today (Oct 19).
In a Bursa filing today, the company said that it had entered into a sales and purchase agreement (SPA) with the vendors Kheng Joo Realty Sdn Bhd and Kin Seng Properties Sdn Bhd to acquire the land, subject to the terms and conditions as stipulated in the SPA.
The price was arrived at on a “willing buyer willing seller” basis and as at the date of this announcement, no valuation was carried out on the land, which is in the industrial zoning area.
The deposit sum of RM1.84 million has been paid, and the balance of the purchase consideration of RM16.57 million shall be paid or caused to be paid within four (4) months from the date of the SPA.
The company said SMKSB plans to construct factories and covered warehouses as part of its long term plans to relocate some of its operation and existing tenants from the current location at Jalan Sungai Puloh, Off 6th Miles, Jalan Kapar to the land.
SMKSB is principally involved in the business of kiln drying, preservative treatment and its related services with issued share capital of SMKSB is RM43.0 million comprising 43 million ordinary shares.
