LB Aluminium proposing to acquire land, properties worth RM22mil
In a filing with Bursa Malaysia today, the company said the acquisition of the industrial land in Banting, Selangor, also includes an industrial complex comprising three adjoining single-storey detached factories, a double-storey office building, an open-sided single-storey factory, three open-sided stores and a guard house.
The company also inked a three-year tenancy agreement to rent the property out to Lucksoon Metal Works Sdn Bhd with a monthly rental of RM116,000 per month upon completion of the proposed acquisition.
"Lucksoon Metal Works Sdn Bhd is currently occupying the property to run a business of contractors and traders of metal works and metal products.
"The proposed acquisition will enable the group to establish an additional source of recurring income and benefit from potential capital appreciation of the property in the foreseeable future," it said.
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