Ornapaper buys land in Melaka for RM7.2mil

PETALING JAYA: Ornapaper Bhd is proposing to acquire two pieces of vacant leasehold land with a building project under development from Fairway Review Sdn Bhd for RM7.2mil.

In a filing with Bursa Malaysia, Ornapaper said its wholly owned subsidiary, Ornapaper Industry (M) Sdn Bhd has entered into a sale and purchase agreement for land and building with Fairway.

Measuring 20,259sq ft collectively, the two leasehold lands, located in Melaka, will expire on Oct 17, 2123.

Ornapaper also stated that Fairway is currently constructing a four-storey worker hostel building and one guard house on the lands.

Ornapaper said the proposed acquisition is for the purpose of providing accommodation for its foreign workers.