Seacera Group

Seacera Group

Postby winston » Thu May 18, 2017 8:28 am

not vested

Seacera to buy warehouse in Melaka for RM16.9mil

KUALA LUMPUR: Seacera Group Bhd unit, Seacera Ceramics Sdn Bhd, has entered into a conditional sales and purchase agreement with QM Sports Sdn Bhd to acquire a warehouse in Melaka for RM16.9mil.

In a filing with Bursa Malaysia yesterday, Seacera said the acquisition would be satisfied via the issuance of 8,857,143 new ordinary shares in Seacera at RM1.40, amounting to about RM12.4mil and RM4.5mil cash.

The company’s manufacturing and warehousing facility is presently located in the Selayang Industrial Area in Selangor and it was constructing a new manufacturing and warehousing facility for its tiles division in Kamunting, Perak.

The new facility would double the current manufacturing capacity to 12,000 sq m and would be completed in the third quarter of 2018.

The Perak facility would be used as a distribution hub for the northern region of Peninsular Malaysia while the property in Melaka would serve as the group”s warehousing and distribution hub for the southern region.

Source: Bernama

http://www.thestar.com.my/business/busi ... l1alTEf.99
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