PETALING JAYA: Tek Seng Holdings Bhd
has proposed to acquire a parcel of industrial land formed by nine adjoining lots and warehouse and structure, measuring 853,863 sq ft, in Seberang Perai, Penang, for a total cash consideration of RM46.96mil from See Hup Consolidated Bhd.
In its filing with the stock exchange, the polyvinyl chloride (PVC) product manufacturer said the transaction was in line with the group’s long-term strategy to expand and grow its manufacturing business.
“The property is in the vicinity of the existing plant of the company and its strategic location allows better utilisation of management and resources.
...