PETALING JAYA: Cash-rich Comfort Gloves Bhd
plans to acquire a loss-making company with 15.18 acres of landbank in Muar, Johor, for the purpose of real estate investments.
The glove maker told Bursa Malaysia that it is buying the entire equity interest in Goldhill Melody Sdn Bhd for RM25.75mil, following the signing of a conditional share purchase agreement yesterday.
Goldhill is owned by the Lau family, which is the major shareholder of Comfort Gloves. Goldhill is the registered owner of five parcels of freehold agriculture land that are zoned for residential use.
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