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Wednesday, June 13, 2012

Wellcall arm buys land for RM4.6m

Wellcall Holding Bhd's wholly-owned subsidiary, Wellcall Hose (M) Sdn Bhd, has entered into a sale and purchase agreement to acquire a leasehold vacant industrial land at Kinta, Perak, for about RM4.635 million.

The land, measuring approximately 3.6 hectares, is located in Mukim Sungai Terap, Kinta, and a kilometre away from Wellcall's principal place of business and factories, the group said in a filing to Bursa Malaysia today.

The land will be used by Wellcall Group to build a new factory to cater for the anticipated increase in demand for its industrial rubber hose and also for future growth in its business.

The acquisition is expected to be completed by year-end and will be satisfied entirely in cash.

By Bernama

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