KUALA LUMPUR: Dynaciate Group Bhd
has proposed to accumulate a 23,550 sqm freehold industrial land in Bentong, Pahang for RM12mil money.
In a submitting with Bursa Malaysia, Dynaciate mentioned its wholly-owned subsidiary, Magnitude Resources Sdn. Bhd had entered right into a sale and buy settlement with Powernet Industries Sdn Bhd (PISB) for the proposed acquisition.
PISB, a wholly-owned subsidiary of Main Market listed KPower Bhd, is principally concerned within the textile manufacturing of warp-knitted materials.
Dynaciate mentioned the Bentong property is a freehold industrial land measuring roughly 5.8 acres, with a double-storey workplace constructing annexed with a single-storey manufacturing unit, a double-storey and one single-storey indifferent warehouses, in addition to fixtures and fittings of the buildings which incorporates equipment, plant, materials and gear.
Executive director Melvin Lim is assured that the proposed acquisition would contribute positively to the group’s future earnings.
“We are actively expanding our property portfolio, capitalising on the group’s construction resources in particular within the industrial land and building sector to increase the value of our property investments.
“Pushing forward, our ultimate portfolio strategy is to identify, invest and to develop the ever-growing capital appreciation and rental income potentials within the said industrial market,” he mentioned.
Dynaciate mentioned the proposed acquisition, which will probably be financed by means of borrowings, is predicted to be accomplished by second quarter of the calendar 12 months 2022.
