BSLI to buy land, factory for RM4.8mil

PETALING JAYA: BSL Corp Bhd’s wholly-owned unit Ban Seng Lee Industries (BSLI) has signed an agreement to sell a piece of freehold land in Gombak measuring 31,501 sq ft and a single-storey detached factory on it to MyDecor Marketing Sdn Bhd for RM4.8mil.

The gross proceeds would be used to repay bank borrowings (RM3mil), for working capital (RM1.7mil) and disbursements (RM100,000), BSL said in a filing with Bursa Malaysia.

BSLI’s operation will be transfered to a newly acquired freehold industrial land in Rawang.

By The Star