KUALA LUMPUR (Sept 18): Biscuit maker Hup Seng Industries Bhd is buying a new production line for €2.5 million (RM12.13 million) from an European supplier, GEA Group.

In a filing with Bursa Malaysia, Hup Seng said the new line is part of the group's risk management programme to manage risks arising from ageing machinery and equipment.

"The introduction of high-tech European ovens as gradual replacements for existing ageing ovens is to improve efficiency and productivity by reducing wastage and improving energy savings," it said.

Hup Seng's share price gained one sen or 0.98% to close at RM1.03 today, giving it a market capitalisation of RM824 million.