KUALA LUMPUR: Kejora Juara Sdn Bhd (KJSB) is acquiring three plots of land in Muar, Johor, measuring 276, 605 sq ft from Paragon Progress Sdn Bhd (PPSB) for RM2.2 million.
The wholly-owned subsidiary of furniture manufacturer Lii Hen Industries Bhd has entered into a sale and purchase (S&P) agreement with PPSB to acquire the freehold agriculture land along with a single-storey detached house and four blocks of workers’ quarters, the parent company announced Dec 28 to Bursa Malaysia.
The property, located about 500 meters away from the group’s major plants, is to house its foreign workers.
According to PPSB’s latest audited accounts for the year ended April 30, 2009, the land and buildings are aged about three to five years old and they have a net value of RM1.12 million.
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