PJBumi to develop industrial development for RM23mil

PETALING JAYA: PJBumi Bhd, through its unit PJBumi Heavy Engineering & Services Sdn Bhd will develop its proposed industrial development in Kedah for RM23.46mil.

In a filing with Bursa Malaysia, PJBumi said the development consists of 22 units of 1 and ½ storey terraced industrial buildings on Lot PT 60594, Mukim Sungai Petani, Kuala Muda District in Kedah.

PJBumi said the contract will not have any material effect on the issued and paid-up capital, substantial shareholders' shareholding, net asset per share and gearing of the company and its subsidiaries.

"Similar to all the business entities, risk factors affect the execution of the project, including but not limited to business risks such as prudent financial management, changes in price materials, changes in political, economic and regulatory conditions," it said.

"However, the board of directors of the company will continue to exercise due care in considering the risks associated here," it added.