Supermax buys Kapar land for RM20m for capacity expansion

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61
10 shares, 61 points

Supermax buys Kapar land for RM20m for capacity expansion 1

PETALING JAYA: Supermax Corp Bhd is acquiring a piece of industrial land measuring 16,654 square metres in Kapar, Selangor for RM20 million.

The glove maker told Bursa Malaysia that its wholly owned subsidiary Maxter Glove Manufacturing Sdn Bhd had into a sale and purchase agreement with Nishimen Industries (M) Sdn Bhd for the purchase.

Supermax said the proposed acquisition is for the group’s future manufacturing capacity expansion in a strategic location nearby its existing cluster of manufacturing plants. This, in turn, will facilitate management control and operational synergies and efficiency.

At the noon break, its share price slipped 16 sen to RM1.61 on 19.38 million shares done.


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61
10 shares, 61 points

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