SAB purchases land in Selangor for RM19mil

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.

SAB said the land offered good accessibility as it is located at one of the main automotive aftermarket parts hubs.