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NewsProlexus buys lands in Johor for RM9.9m for future expansion
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Prolexus buys lands in Johor for RM9.9m for future expansion
by Cals Tue 09 Jun 2015, 08:25
Prolexus buys lands in Johor for RM9.9m for future expansion
KUALA LUMPUR (June 8): Original equipment manufacturer and retailer Prolexus Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) is buying three contiguous pieces of freehold land zoned for industrial use in Kluang, Johor, for RM9.9 million for future expansion.
In a filing with Bursa Malaysia today, Prolexus (fundamental: 2.8; valuation: 1.5) said its indirect wholly owned unitTrans Pacific Textile (M) Sdn Bhd has entered into three separate sales and purchase agreements (SPAs) to effect the purchase of the lands, which measure a collective 11.159ha.
Prolexus intends to fund the acquisition through internally generated funds and/or bank borrowings, which will be decided by the executive directors at a later stage.
Barring any unforeseen circumstances, Prolexus expects to complete the purchase by the third quarter of this year. Shares in Prolexus closed up one sen or 0.44% at RM2.27, for a market capitalisation of RM253.13 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
KUALA LUMPUR (June 8): Original equipment manufacturer and retailer Prolexus Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) is buying three contiguous pieces of freehold land zoned for industrial use in Kluang, Johor, for RM9.9 million for future expansion.
In a filing with Bursa Malaysia today, Prolexus (fundamental: 2.8; valuation: 1.5) said its indirect wholly owned unitTrans Pacific Textile (M) Sdn Bhd has entered into three separate sales and purchase agreements (SPAs) to effect the purchase of the lands, which measure a collective 11.159ha.
Prolexus intends to fund the acquisition through internally generated funds and/or bank borrowings, which will be decided by the executive directors at a later stage.
Barring any unforeseen circumstances, Prolexus expects to complete the purchase by the third quarter of this year. Shares in Prolexus closed up one sen or 0.44% at RM2.27, for a market capitalisation of RM253.13 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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