MBL disposes of lands in Johor for RM9.5mil

PETALING JAYA: Muar Ban Lee Group Bhd (MBL) is disposing of two pieces of leasehold industrial land totalling 2.26 acres in Muar, Johor to Airegold Sdn Bhd for RM9.5mil.

In a filing with Bursa Malaysia, MBL said the properties purchased are in line with the company’s expansion strategy, which enabled it to enhance its production capacity to support growing customer demand.

“The properties are expected to provide additional space for automation, warehousing and research and development development, as well consolidate operational activities by integrating the acquired properties with the existing factory.

It added that the properties purchased do not require the approval of shareholders of MBL and the relevant government authorities.

“The purchase of the properties are estimated to be completed within 90 days.”

MBL is principally involved in the manufacture of oil seed expeller, automated kernel crushing plants and related parts. The company is also a distributor and dealer of automobiles and trades in agriculture machineries and engineering parts.