news

Leader Steel buys land in Klang for business expansion

KUALA LUMPUR (Jan 23): Leader Steel Holdings Bhd is acquiring a piece of freehold land in Klang for RM30.67 million to expand its manufacturing cum warehouse facility.

In a filing with Bursa Malaysia yesterday, the steel products manufacturer said the 3.48 million sq ft land, currently owned by Kapar Holding Sdn Bhd, is situated at the proximity of the group’s present plant and office in Kapar.

This, it said, could assist in its business expansion plan to other regions in Peninsular Malaysia and export market, due to excellent public infrastructure and its proximity to Port Klang.

"The intention of the group is to expand manufacturing cum warehouse facility to accommodate future expansion of business activities in the central region, which will enable the group to capitalise on its new centralised location to seek opportunities in other and new domestic markets operating in the central and southern regions of Peninsular Malaysia, as well as regional export markets," it said. 

The acquisition will be funded via internally-generated funds and bank borrowings.

Leader Steel added that the purchase is expected to be completed in the fourth quarter of 2020.

Shares of Leader Steel closed down one sen or 3.23% at 30 sen yesterday, for a market capitalisation of RM37.11 million.

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. 重点报道:巴生港口自由区的隐藏商机
  2. EPF Klang to resume counter services via Janji Temu Online
  3. Mah Sing diversifying into glove manufacturing business