Share
- Both plots have 60-year leases on them. One of the plots, which has a three-storey office building with a single-storey open-sided factory erected on it, will see its lease expire on May 19, 2068. The other plot's lease is set to expire on May 3, 2069.
KUALA LUMPUR (Nov 1): Hygiene care solutions maker RGT Bhd (KL:RGTBHD) said on Friday it is buying two leasehold industrial plots for RM16.8 million, located in Simpang Ampat, Penang, to set up dedicated assembly and production lines for new customers and to enhance its production efficiency.
RGT is buying the properties from Permai Gas Sdn Bhd via its wholly owned Rapid Growth Technology Sdn Bhd. A sale and purchase agreement for the purchase was inked on Friday.
Both plots have 60-year leases on them. One of the plots, which has a three-storey office building with a single-storey open-sided factory erected on it, will see its lease expire on May 19, 2068. The other plot's lease is set to expire on May 3, 2069.
These new properties, situated within the same industrial estate — Taman Perindustrian Bukit Minyak — are also expected to result in cost savings in logistics and management, said RGT.
The company plans to part-finance the purchase via bank borrowings and internal funds. It expects its gearing to increase from 0.39 times to 0.50 times following the purchase.
RGT shares closed unchanged at 57 sen apiece, giving it a market capitalisation of RM200.92 million, Year-to-date, the stock has fallen 18.3%.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!
TOP PICKS BY EDGEPROP
Damansara Heights (Bukit Damansara)
Damansara Heights, Kuala Lumpur
SS 21, Damansara Utama
Petaling Jaya, Selangor
Seksyen 5, Petaling Jaya
Petaling Jaya, Selangor
Seksyen 12, Petaling Jaya
Petaling Jaya, Selangor
D'Ambience Residences (Ikatan Flora), Bandar Baru Permas Jaya
Permas Jaya/Senibong, Johor
Seri Mutiara Apartment, Bandar Baru Seri Alam
Masai, Johor
D'Carlton Seaview Residences (Seri Mega)
Masai, Johor
Acacia Park @ Bandar Tasik Puteri
Rawang, Selangor
