PETALING JAYA, Luxchem Corp Bhd is set to acquire three parcels of freehold industrial land totaling 24,206 sq metres in Bandar Bukit Raja Industrial Park, Selangor, from Sime Darby Property (Bukit Raja) Sdn Bhd for RM40.55 million.
In a filing with Bursa Malaysia, the plastics materials and resin manufacturing company said the acquisition aligns with the group’s capital optimisation strategy and prudent cash management approach.
The company added that the land purchase will support its long-term operational expansion, allowing Luxchem to enhance production capacity and improve supply chain efficiency. The parcels are strategically located within a well-developed industrial hub, providing easy access to logistics networks and infrastructure critical for manufacturing activities.
Luxchem noted that the acquisition is expected to be funded through a combination of internal cash reserves and bank financing, without materially affecting the company’s gearing or cash flow position.
Industry analysts say the move reflects Luxchem’s strategy to strengthen its manufacturing footprint in Malaysia amid growing demand for plastics and resin products in both domestic and export markets. The acquisition also positions the company to explore potential future development or facility upgrades on the site.
The transaction is subject to regulatory approvals and is expected to be completed in the coming months, further cementing Luxchem’s commitment to sustainable growth and operational excellence.
