14 minutes
PETALING JAYA: Integrated Logistics Bhd’s wholly owned subsidiary IL Power Sdn Bhd is acquiring a piece of agricultural land in Kuala Muda, Kedah measuring 78.92ha from Kai Sik Latex Products Sdn Bhd for RM24.17 million.
According to the group’s Bursa filing, the Land is intended to be developed into industrial land for purposes of solar energy ventures. However, the development plan for the development has yet to be finalised at this juncture.
“The acquisition of the land and upon its development into solar power project is expected to contribute positively to the future revenue and earnings of the group.”
Integrated Logistics will fund the land purchase through a combination of internally generated funds and/or bank borrowings.
