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Tuesday, October 20, 2009

Scientex to buy Johline Realty for RM65.3m

SCIENTEX Bhd, a manufacturer and property developer, plans to buy Johline Realty Sdn Bhd for RM65.3 million to tap the growth triangle of Johor Baru.

It told Bursa Malaysia yesterday that the acquisition by its unit Scientex Quatari Sdn Bhd is in line with its expansion plan of current operations from Pasir Gudang and Kulai to Iskandar Malaysia.

The deal, which will be funded with internal funds and borrowings, is due to be completed in three months.

By Business Times

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