Friday 29 Mar 2024
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KUALA LUMPUR (Aug 5): D’nonce Technology Bhd’s unit is acquiring 32,375 sq metres of vacant industrial land in Kulai, Johor for RM12.2 million to build a new factory.

The group said 82%-owned Attractive Venture (JB) Sdn Bhd is buying the land from ACL Group Sdn Bhd, which is 60% owned by Tang Mei Yean and 40% by Chia Swee Beng.

Attractive Venture, which is involved in the design and conversion of advanced packaging materials and distribution of electronic products, will build a factory building with 120,000 sq feet of floor space that will house its production floor, stores and office, said D’nonce in a filing with Bursa Malaysia.

Attractive Venture’s three currently rented premises located in Kulai Jaya Industrial Park are at full capacity and the current layout is very inefficient for a controlled production business, said D’nonce.

D’nonce, a diversified engineering solutions provider with key customers from healthcare, electrical and electronics (E&E) sectors and other industries, is 29.62%-owned by AT Systematization Bhd, which in turn is an integrated designer and manufacturer of industrial automation systems & machinery.

Shares of D’nonce, which has fallen 54% year to date, closed unchanged at 15.5 sen on Friday, giving the group a market capitalisation of RM58.24 million.

AT Systematization, meanwhile, settled half sen or 33% lower at one sen per share, valuing the group at RM60.01 million.

Edited ByS Kanagaraju
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