Pelangi Publishing acquires Johor land for RM3.98m

KUALA LUMPUR: Pelangi Publishing Group Bhd acquired three plots of Johor land from Mahabuilders Bhd for RM3.98 million, it announced on Wednesday, Jan 5.

The three plots total in size 12,317 sq m and located in Mukim Plentong, Johor Bahru. The group said that it plans to construct a bigger printing factory on the land. This will help it enhance and improve its revenue stream and profit for the coming year. Moreover, the transaction will diversify its business risks by venturing into related upstream or downstream businesses.

The group sees the larger printing capacity allowing it to gain economies of scale with bigger orders without having to cancel orders under existing factory space. Furthermore, the additional factory space will allow the group to take related business ventures that could indirectly improve sales and the bottom line.

Pelangi Publishing is an investment holding company that engages in publication and distribution of books and other educational materials in Malaysia and internationally.