Astino to buy land for RM60mil

PETALING JAYA: Astino Bhd’s wholly- owned subsidiary, Astino (M) Colour Steel Sheets Sdn Bhd, has agreed to acquire a plot of freehold land in Kapar, Selangor, for RM60.16mil from Bukit Saujana Jaya Sdn Bhd.

In filing with Bursa Malaysia, Astino said the land size was 884,703.6 sq ft and has been charged to CIMB Bank Bhd as security for a loan granted to the seller.

The purchase will be funded with money from internally generated funds (15%) and bank borrowings (85%) and it will also support Astino’s expansion.