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KPS Consortium Bhd (KPSCB) said its wholly owned subsidiary, KPS Plywood Sdn Bhd, has agreed to acquire a leasehold industrial property in Klang from Pelangi Technowood Sdn Bhd for RM30 million cash.
The property, located at Kawasan Perindustrian Pulau Indah, spans 16,363 sq metres and houses a single factory building. The land lease runs until February 2097.
Under the sale and purchase agreement, KPS Plywood will pay a 10% deposit (RM3m) upon signing, with the balance RM27m due within three months of the deal becoming unconditional.
The acquisition will be funded through a mix of 60% bank borrowings and internal funds.
KPSCB said the purchase, intended for investment purposes, “is in the best interests of KPSCB group.”
It added that the deal will not have any material impact on earnings, net assets, gearing or shareholding structure for FY2025, and does not require shareholder approval. — TMR
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