Magni-Tech, which is engaged in both the manufacture and sales of garments, said it would be in a stronger cash position to fund its future business plans and to undertake new and suitable investment opportunities.
PETALING JAYA: Garment manufacturer Magni-Tech Industries Bhd
is disposing of a vacant piece of industrial land with a factory building in Penang for RM22mil.
In a filing with Bursa Malaysia, Magni-Tech said its wholly-owned subsidiary, South Island Garment Sdn Bhd, had entered into a sale and purchase agreement with Hallmark Equity Sdn Bhd for the disposal of the land.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
