PCCS acquires office, factory property in Klang for RM3.87m

KUALA LUMPUR: PCCS Group Bhd has proposed to acquire a single-storey factory cum two-storey office on a parcel of freehold land measuring 2,099 sq m in Klang for RM3.87 million, it said in a Bursa Malaysia filing on Thursday, Dec 30.

The group has entered into a sale and purchase agreement (SPA) with Tan Chin Pof and Tan Sheang Fang on Thursday.

PCCS said it intended to occupy and use the property to further expand its labels and stickers business in the central and northern region of Malaysia.

"With the acquisition, PCCS Group would be able to gain a competitive edge and improve the efficiency of its administration," it said.

The price of the property was arrived at on a willing-buyer-willing seller basis according to its market value.

The acquisition will be 15% financed by internally-generated funds while the remaining 85% will be funded by a term loan from bank borrowings.

The property is currently charged to Public Bank Bhd.

PCCS aims to complete the purchase within three months after the date of the SPA.