KUALA LUMPUR (April 2): Datasonic Group Bhd is buying a factory in Klang for RM18.88 million to be used for smart card manufacturing.
The group said ts wholly-owned subsidiary Datasonic Manufacturing Sdn Bhd has inked an agreement with KlangGroup Holdings Sdn Bhd to acquire the factory located at the Excellent Technology Park II Phase 2.
According to its bourse filing, the factory is currently being built on 84,032.76 sq ft of freehold land.
Datasonic said the purchase consideration will be funded via a combination of internally-generated funds and bank borrowings.
“The proposed acquisition would be used as a new factory site for the manufacturing of smart cards to fulfill the current business needs and future business plan for both local and overseas.
“The property is strategically located within the Meru, Kapar, Klang area and also near the acclaimed township of Setia Alam and Bandar Bukit Raja. It is an ideal location for factories and warehouses as the urban infrastructure provides easy access to the main city, airport and jetty,” said the group.
It expects to complete the acquisition within 36 months from the date of the sale and purchase agreement.
Datasonic’s share price fell 1.5 sen or 1.71% to 86.5 sen, giving it a market capitalisation of RM1.17 billion.