Solid Automotive acquires land in Selangor for RM18.91mil

PETALING JAYA: Solid Automotive Bhd (SAB) is acquiring a piece of leasehold land measuring (43,487 sq ft in Batu Caves, Selangor, from South East Asia Plastic Industries Sdn Bhd for RM18.91mil.

In a filing with Bursa Malaysia, SAB said the land consists of a single-storey factory and two-and-a-half storey office.

“The proposed acquisition is consistent with the strategic plan of the company and its subsidiaries to operate in a more efficient manner, as the acquisition is expected to facilitate the company’s consolidation plan,” it said.