Shin Yang to Acquire Leasehold Industrial Property for MYR34 Million
MT Newswires Live09-04 18:55
Shin Yang Group (KLSE:SYGROUP) agreed to acquire a leasehold industrial property in Sarawak, Malaysia, from related party Forescom Plywood for 34 million ringgit.
The property comprises 8.316 hectares of land with several buildings at Pending Industrial Estate, according to a Friday Malaysian bourse filing.
Shin Yang said the acquisition will support the expansion of its logistics business.
The purchase will be funded through a combination of bank financing and internally generated funds, it said.
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