PETALING JAYA: Glove maker Kossan Rubber Industries Bhd has proposed to acquire a piece of property in Klang, Selangor, for a cash consideration of RM40mil from palm oil machinery group CB Industrial Product Holding Bhd (CBIP).
Both companies announced to Bursa Malaysia yesterday that their wholly owned subsidiaries – Ideal Quality Sdn Bhd (IQ) and Advance Boilers Sdn Bhd (ABSB) – had entered into a sale and purchase agreement.
IQ would acquire a piece of freehold land, measuring approximately 4.05ha, together with several buildings erected thereon from ABSB.
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