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Luxchem buys industrial land for RM40.55mil

The Star·09/03/2025 09:38:00
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PETALING JAYA: Luxchem Corp Bhd is acquiring three pieces of freehold industrial lands measuring 24,206 sq metres in Bandar Bukit Raja Industrial Park, Selangor, from Sime Darby Property (Bukit Raja) Sdn Bhd for RM40.55mil.

In a filing with Bursa Malaysia, the plastics material and resin manufacturing company said the proposed acquisition is in line with the group’s capital optimisation strategy and prudent cash management approach.

“With surplus cash reserves, the group aims to enhance returns by investing in real estate assets with development potential.”

Rather than maintaining idle funds in fixed deposits with modest yields, Luxchem said it plans to acquire the lands and collaborate with a property developer to unlock higher investment returns through future development and sale of the property.

“Subject to unforeseen circumstances and pursuant to the above, the board remains optimistic of the prospects and future development potential of the lands.

“The board endeavours to carefully deliberate on potential development plans to maximise profit generation from the lands,” it said.