KUALA LUMPUR (Dec 8): SKH Consortium Bhd won an auction bid to buy a semi-detached factory at RM8.35 million in Shah Alam, whose registered owner is a unit of GN3 firm R&A Telecommunication Group Bhd.
In a filing with Bursa Malaysia, SKH said its wholly-owned subsidiary Open Adventure Sdn Bhd made the successful bid for the two and a half storey property, which sits on a 2,041-sq metre freehold industrial land.
SKH said the acquisition was meant to facilitate its expansion plan, whereby it will use it for inventory storage prior to distribution and assembly products of its own brand.
The group said the purchase consideration will be satisfied by the combination of internally-generated funds, bank borrowings, and fund raising exercise.
SKH expects to complete the acquisition in the second quarter of 2018.
Today, the group’s share price closed unchanged at 7.5 sen, giving it a market capitalisation of RM38.81 million.