<div class=newsTextDataWrapInner>KUALA LUMPUR (Dec 9): ViTrox Corp Bhd’s wholly-owned subsidiary has acquired a 22.24-acre land in Seberang Perai Selatan, Penang for RM34.2 million from The Penang Development Corp (PDC). 
 
Its wholly-owned unit ViTrox Technologies Sdn Bhd signed a sale and purchase agreement with PDC today, said ViTrox in a filing with Bursa Malaysia. 
 
The acquisition would be funded by internal funds and borrowings. 
 
ViTrox said the acquisition will allow the group to undergo a three-phase expansion plan, scheduled to be fully completed by 2023. 
 
The group anticipates strong business growth that may cause a shortage of space at its existing facility by 2017. The facility is currently operating at an utilisation rate of 80%. 
 
“With this foresight, we need to prepare ahead in order to eliminate possible business bottlenecks caused by the lack of physical operating space,” said the group. 
 
ViTrox added that the new facility would further strengthen its core competencies. 
 
ViTrox shares closed down 4 sen or 1.7% to RM2.34 today, translating to a market capitalisation of RM546.93 million. 
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KUALA LUMPUR (Dec 9): ViTrox Corp Bhd’s wholly-owned subsidiary has acquired a 22.24-acre land in Seberang Perai Selatan, Penang for RM34.2 million from The Penang Development Corp (PDC).

Its wholly-owned unit ViTrox Technologies Sdn Bhd signed a sale and purchase agreement with PD...

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PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

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The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

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