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Boilermech to acquire land for rm27.31 mln in Klang

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Boilermech to acquire land for rm27.31 mln in Klang Empty Boilermech to acquire land for rm27.31 mln in Klang

Post by Cals Tue 10 Jun 2014, 03:19

Boilermech to acquire land for rm27.31 mln in Klang
Business & Markets 2014
Written by Bernama   
Monday, 09 June 2014 20:14

KUALA LUMPUR (June 9): Boilermech Group and Inspirasi Delima Sdn Bhd is proposing to acquire a 99-year leasehold vacant industrial land in Klang, from Logiston Sdn Bhd (Logiston), for RM27.31 million in cash.

Logiston Sdn Bhd is a related party of Boilermech Holdings Bhd (Boilermech).

"The property has been identified as a strategic location for the company to build a new manufacturing plant/warehouse, as its current plant in Subang is running at close to optimal capacity.

"The proposed manufacturing plant/warehouse is expected to be completed in two to three years time and will cater for Boilermech's future growth and increasing demand for its products and services," Boilermech said in a filing to Bursa Malaysia today.

It said that the acquisition is expected to be fully financed via internally-generated funds and will not have any material effect on the earnings and earnings per share of the Boilermech group of companies, for the financial year ending March 31, 2015.

"However, the proposed acquisition is expected to contribute positively to the earnings and earnings per share of Boilermech in the future financial years, as and when the factory is completed and becomes fully operational," it added.
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