WTEC Group proposes RM7.74mil acquisition of Semenyih factory

PETALING JAYA: WTEC Group Bhd is proposing to acquire a two-storey bungalow factory that is currently under construction in Semenyih, Selangor from Hartanah Lotus Sdn Bhd for RM7.74mil.

The factory, when completed, will have a build-up of approximately 11,860 sq ft, said WTEC.

It said the property is intended to accommodate the group's future business expansion and is strategically located within Bandar Rinching, Semenyih, in close proximity to the industrial building recently acquired by the group.

“The proposed acquisition takes into account the favourable growth prospects of the end-user industries served by the group, which are expected to continue driving demand for its foam and non-foam products and, consequently, increase its manufacturing capacity requirements over the longer term.

“The property will provide the group with greater flexibility to undertake future manufacturing capacity expansion, install additional machinery and equipment, and implement improvements to its manufacturing processes, as and when required.”