KUALA LUMPUR: LYC Healthcare Bhd has proposed to acquire three units of 1½ storey light industrial factory in Cheras for RM4.5mil cash.

In a filing with Bursa Malaysia, LYC said its subsidiary, Aqurate Ingredients Intl (M) Sdn Bhd had entered into a sale and purchase agreement (SPA) with Golden City Development Sdn Bhd (GCDSB) for the proposed acquisition.

LYC said three units measured a total of 622 square metres.

The group said the proposed acquisition may enable Aqurate to expand its business operations and ensure long term sustainability of operations and prevent any risk of any operations downtime

Aqurate is currently carrying out its day-to-day operations out of its premises which is located adjacent to the target properties.

“In view of Aqurate's ever-growing business, the proposed acquisition will be able to sustain the capacity of Aqurate's nutraceutical business.

“Barring any unforeseen circumstances, the board believes that the proposed acquisition will potentially augur well for the long term growth prospect of LYC Group's nutraceutical business and may potentially contribute positively to the financial performance of LYC Group in the future,” it said.