Karyon Industries buys Johor industrial land for RM7.6mil

PETALING JAYA: Karyon Industries Bhd (KIB) is proposing to acquire a piece of freehold industrial land measuring 3,842 sq metres in Johor Baru from Premetal Stamping Ind Sdn Bhd for RM7.6mil.

In a filing with Bursa Malaysia, the chemical industry firm said the proposed acquisition represents an opportunity to acquire further space within the vicinity of its existing factories, to increase its existing storage capacity as well as to set-up additional and/ or new manufacturing lines in the near future.

“The proposed acquisition will be funded through a combination of internally generated funds of RM3.60mil and bank borrowings of RM4mil.”