Malaysia’s Leon Fuat Bhd plans to expand its welded steel pipe manufacturing capacity by buying a leasehold industrial land of 27,108 square meters in Port Klang for MYR20.43mn ($483,550).
The land owned by Irama Utama Sdn Bhd exists less than 500m from the group’s welded steel pipe manufacturing plant in Kawasan Perusahaan Bandar Suleiman. The place will be used as an additional storage space for steel pipe finished products.
The square-shaped land, located within a strategic industrial zone, is prepared with basic infrastructures, said the company. The group will fund the purchase through internally generated funds and borrowings.
($1 = MYR4.22)