This brings the group’s combined space in Singapore and Malaysia to over 1.2 million sq ft
SEMICONDUCTOR company UMS Holdings’ wholly owned subsidiary has acquired 5.4 acres or approximately 235,000 square feet (sq ft) of leasehold industrial land in Penang, Malaysia, for RM15.2 million (S$4.5 million).
The 60-year leasehold land is “strategically located” between Perai Industrial Area and Batu Kawan Industrial in Penang Science Park North, UMS said in a bourse filing on Monday (Jul 1). It is also situated next to UMS’ new factory in Penang.
The acquisition will be funded internally from the group’s placement proceeds, which were raised in January, and is not expected to have any material impact on the company in the current financial year, added UMS.
With this acquisition, the group will have over 1.2 million sq ft of combined space in Singapore and Malaysia to “meet new demands of key customers”.
UMS chairman and chief executive Andy Luong highlighted that the group’s latest investment underscores its commitment in expanding its operations and providing “best-in-class facilities” for clients and potential clients.
“Going forward, we believe that our investments in Penang will enable the group to strengthen its operational efficiency and sharpen its competitive edge in the market in order to grow the business and drive long-term value for our shareholders,” said Luong.
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UMS shares closed at S$1.17 on Monday, down 0.9 per cent or S$0.01, before the announcement.
