AYS unit acquires land to expand warehouse capacity

TheStar Thu, Dec 17, 2020 08:30am - 4 months ago


AYS said the land is part of the K International Industrial Park in Kapar that is being developed by GVISB, and will be acquired free from encumbrances with approved zoning from residential development to industrial development.

KUALA LUMPUR: AYS Ventures Bhd’s wholly-owned subsidiary, Ann Yak Siong Hardware Sdn Bhd (AYSH), is acquiring 9.51ha in Klang, Selangor, from Golden Valley Industries Sdn Bhd (GVISB) for RM43mil.

AYS said the land is part of the K International Industrial Park in Kapar that is being developed by GVISB, and will be acquired free from encumbrances with approved zoning from residential development to industrial development.

The steel product and construction material distributor said AYSH plans to construct covered warehouses and an office on the freehold land for its own use, and the proposed purchase will be funded by a combination of internally-generated funds and external borrowings.

“The proposed acquisition will allow AYS to expand its warehouse capacity, ” it said. — Bernama






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