Ge-Shen rises 2.92% in thin trade on expansion plan

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Ge-Shen rises 2.92% in thin trade on expansion plan

By Surin Murugiah / theedgemarkets.com   | July 20, 2016 : 9:41 AM MYT

KUALA LUMPUR (July 20): Ge-Shen Corp Bhd shares rose 2.92% in thin trade after the company said it is acquiring a property from Tiong Nam Logistics Holdings Bhd for RM9.5 million, to expand its manufacturing plant.
At 9.22am, Ge-Shen rose 5 sen to RM1.76 with 36,000 shares done.
The manufacturer of high precision plastic components told Bursa Malaysia that its wholly-owned subsidiary Ge-Shen Plastic (M) Sdn Bhd is acquiring the property from Tiong Nam's wholly-owned subsidiary Tiong Nam Logistics Solutions Sdn Bhd.
The property is a double-storey detached warehouse, with an annexed three-storey office and other ancillary buildings located in Tebrau, Johor Bahru.Ge-Shen Corp Bhd is acquiring a property from Tiong Nam Logistics Holdings Bhd for RM9.5 million, to expand its manufacturing plant.
The manufacturer of high precision plastic components told Bursa Malaysia that its wholly-owned subsidiary Ge-Shen Plastic (M) Sdn Bhd is acquiring the property from Tiong Nam's wholly-owned subsidiary Tiong Nam Logistics Solutions Sdn Bhd.
The property is a double-storey detached warehouse, with an annexed three-storey office and other ancillary buildings located in Tebrau, Johor Bahru.