In a filing to Bursa Malaysia, OKA said the vacant freehold land is located adjacent to the present factory of its wholly-owned subsidiary, OKA Concrete Industries Sdn Bhd.
The purchase from the vendor, Liong Yu Yang, will be funded by internally generated funds and bank borrowings, said OKA.
The deal is expected to be completed by the second quarter ended Sept 30, 2018.
Shares in OKA closed down two sen or 1.4% at RM1.41 today, for a market capitalisation of RM232.27 million. — theedgemarkets.com