PETALING JAYA: Karyon Industries Bhd (KIB) is proposing to acquire a freehold industrial land parcel measuring 3,587 sq m in Johor Baru, Johor, from Tanah Temasik Sdn Bhd for RM8.6mil.
In a filing with Bursa Malaysia, the polyvinyl chloride compound manufacturer said the move is in line with its long-term strategy to strengthen its manufacturing capabilities and expand production capacity.
“The proposed acquisition represents an opportunity to acquire additional space within the vicinity of its existing factories to set-up additional and new manufacturing lines in the near future, as well as to increase its existing storage capacity.
“Premised on the above, the proposed acquisition is expected to enhance the group’s manufacturing footprint and support the expansion plan of the group.”
Barring any unforeseen circumstances, KIB said the acquisition is expected to contribute positively to future earnings.