Karyon Industries Bhd (KIB) is proposing to acquire a 3,587 sq m freehold industrial land parcel in Johor Baru, Johor, from Tanah Temasik Sdn Bhd for RM8.6 million.
In a filing with Bursa Malaysia, the polyvinyl chloride (PVC) compound manufacturer said the acquisition is part of its long-term strategy to strengthen manufacturing operations and support future expansion plans.
The company said the land is located near its existing factories and will provide additional space for the installation of new manufacturing lines, expansion of production capacity and enhancement of storage facilities.
KIB added that the acquisition is expected to improve the group’s overall manufacturing footprint and support its growth plans in the coming years.
Barring any unforeseen circumstances, the company expects the proposed acquisition to contribute positively to future earnings.
