EI Power Unit to Acquire Freehold Property for MYR17 Million
MT Newswires Live
4 hours ago
EI Power's (KLSE:EIPOWER) unit EI Power Technologies signed a deal to acquire a freehold property in Shah Alam, Selangor, for 17.2 million ringgit.
The property comprises a 16,100-square-foot land parcel with a 17,472-square-foot, 21/2-storey semi-detached factory.
The purchase price will be funded with up to 15 million ringgit from IPO proceeds earmarked for a new headquarters and warehouse, and 2.2 million ringgit from internal funds.
The acquisition is expected to be completed within three months from the agreement, with a one-month extension available, the power engineering firm said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.