Dutch Lady buys land in[email protected]for RM57 mil to expand facilities

KUALA LUMPUR (March 18): Dutch Lady Milk Industries Bhd is purchasing three plots of industrial lands within[email protected]for some RM57 million to construct manufacturing facilities to keep up with demand for its products.

In a filing to the bourse, the company said the plots measure 32.59 acres in total.

“The Lands are of a suitable size and in a strategic location within the vicinity of an industrial park with Halal status, all of which are suitable and advantageous for future manufacturing activities,” it said.

The vendor for the land transaction is Pelaburan Hartanah Bhd (PHB), which is the real estate investment holding company of Yayasan Amanah Hartanah Bumiputera.

[email protected], which provides modern and complete infrastructure and is supported by road linkages to all major city centres and ports, is situated within close proximity to the Kuala Lumpur International Airport, Putrajaya and Cyberjaya.

The acquisition will be funded by internal funds.

“Barring any unforeseen circumstances and subject to the conditions precedent stated in the agreement, the proposed acquisition is expected to be completed by the fourth quarter of 2020,” it added.

Shares of Dutch Lady closed 20 sen or 0.5% lower to RM37.40 today, valuing the company at RM2.39 billion.