AZRB’S UNIT PROPOSES TO BUY INDUSTRIAL LAND WORTH RM41 MLN IN BATANG KALI
KUALA LUMPUR, Jan 14 -- Ahmad Zaki Resources Bhd’s (AZRB) wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (AZSB) has entered into a sales and purchase agreement with Associated Concrete Products (Malaysia) Sdn Bhd and Persys Sdn Bhd for the acquisition of property worth RM41 million.
In a filing with Bursa Malaysia today, AZRB said the property referred to is a piece of freehold industrial land measuring approximately 19.26 hectares in Batang Kali, Ulu Selangor, and a factory erected on the land.
“The proposed acquisition provides AZSB with the opportunity to utilise the industrial land to further expand its in-house production of precast concrete components as well as to serve as a store or depot for AZSB,” said AZRB.
It added that the site also has good business potential due to its strategic location, accessibility and connectivity from Kuala Lumpur City Centre via Lebuhraya Utara Selatan exiting at the Rawang Interchange.
The proposed acquisition is not expected to have any material effect on the earnings per share, net assets per share, share capital and substantial shareholders’ shareholdings of AZRB.
However, as the proposed acquisition will be funded via a mix of internally generated funds and bank borrowings, the gearing of AZRB will increase, it added.
-- BERNAMA
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