Hup Seng purchases new production line for RM11.71mil

KUALA LUMPUR: Hup Seng Industries Bhd's wholly owned subsidiary Hup Seng Perusahaan Makanan (M) Sdn Bhd (HSPM) has proposed to acquire a new production line from GEA Imaforni S.p.A for RM11.71mil.

In a filing with Bursa Malaysia, Hup Seng said its subsidiary, which is in the business of manufacturing biscuits, is making the purchase to manage risks arising from ageing machinery and equipment.

"The introduction of high-tech European ovens as gradual replacements for existing ageing ovens is to improve efficiency and productivity by reducing wastage and improving energy savings," it added.

At the midday break, shares in Hup Seng were trading one sen or 1.36% higher at 75.5 sen apiece on the back of 137,500 units exchanging hands.