Prestar to buy land in Kg Baru Subang for business expansion

PETALING JAYA: Prestar Resources Bhd is acquiring leasehold land measuring 8,304 square metres in Kampung Baru Subang, Selangor, from Skyhub Technologies Sdn Bhd for RM19.25 million for business expansion.
The land houses a three-storey office building and two units of single-storey factories.
The steel products manufacturer told the stock exchange that the purchase will be satisfied via internally generated funds.
“The property is located in the prominent industrial estate in Kampung Baru Subang which offers excellent business potentials due to its strategic location and accessibility,” said Prestar.
The acquisition is also expected to expand Prestar’s revenue and earnings, particularly for its material handling equipment, trading and services business.
On Bursa Malaysia today, Prestar fell 2.97% to 98 sen with 681,000 shares done.