Business

Saturday October 3, 2009

Gadang acquires land


PETALING JAYA: Gadang Holdings Bhd plans to acquire seven parcels of vacant leasehold bungalow land in Sungai Besi, Selangor for RM11.22mil as payment of debts owed by Bluwater Developments Bhd. “The proposed acquisition will enable Gadang to resolve the long outstanding debt due from Bluwater in the ordinary course of business,” the company told Bursa Malaysia yesterday.

“Furthermore, the said bungalow lots acquired may be disposed of or added to the group’s land-bank for future development.”

Notion Vtec to buy

PETALING JAYA: Notion Vtec Bhd plans to acquire a factory in Ayutthaya, Thailand from Taiko Electronics (Thailand) Co for about RM5mil.

Notion Vtec said the acquisition would allow the group to start its business within a “a short period” of time, with extra land for future expansion.

The facility would allow it to expand its single-lens reflex camera component business, and cater to existing and new customers with plants in Thailand.

Industrial Resins investing in Jakarta

PETALING JAYA: IRM Group Bhd said its subsidiary Industrial Resins (M) Sdn Bhd will invest RM2.5mil in a PVC compunding facility in Jakarta, Indonesia.

The facility would have a processing capacity of 800 tonnes per month and would commence operations in the second quarter of 2010.

“This venture is part of the long-term strategic plans of the group to enhance its productive capacity and profit base,” IRM told Bursa Malaysia yesterday.

 
GADANG :  [Stock Watch]  [News]
NOTION : [Stock Watch] [News]

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