PETALING JAYA: MTAG Group Bhd
wholly-owned unit MTAG Land Sdn Bhd has proposed to buy a vacant land from Grand Focus Sdn Bhd for RM53.6mil cash.
In a filing with Bursa Malaysia, the converter company noted the 7.5 ha land is located in Tebrau, Johor.
MTAG added the proposed acquisition will be satisfied through internally generated funds of the MTAG and its subsidiaries.
It noted the land deal is in line with its long-term strategy to strengthen its manufacturing and industrial capabilities, expand production capacity, and support ongoing business growth opportunities.
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