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- The purchase price of RM64 psf aligns with an independent valuation of RM66 psf, the group said, adding that it plans to fund the acquisition through internally generated funds and external borrowings.
KUALA LUMPUR (March 12): Automotive leather upholstery manufacturer Pecca Group Bhd (KL:PECCA) said it is acquiring land measuring 25,350 sq m in Bandar Serendah, Rawang, to support its expansion plans.
The group is purchasing the leasehold industrial land from Saraya Glove Industries Sdn Bhd for RM17.43 million, according to Pecca's filing on Bursa Malaysia on Wednesday.
Pecca said it plans to build a manufacturing facility on the land, enabling the group to "significantly increase its manufacturing and production capacity to cater for future orders".
The purchase price of RM64 psf aligns with an independent valuation of RM66 psf, the group said, adding that it plans to fund the acquisition through internally generated funds and external borrowings.
Pecca said the deal is expected to be completed by the last quarter of 2025.
Shares in Pecca closed one sen or 0.67% lower at RM1.49, valuing the group at RM1.12 billion. Over the past year, the counter has grown over 5%.
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