Onkyo Asia Electronics Sdn Bhd is selling properties to Y.S.P. Southeast Asia Holding Bhd's wholly-owned subsidiary, Y.S.P. Industries (M) Sdn Bhd (YSPI), for RM31 million.
The properties, according to a filing with Bursa Malaysia today, included a leasehold plot of land, a factory complex, a warehouse, and other ancillary buildings in Kajang, Selangor.
YSPSAH stated that internally produced money would cover 15% of the acquisition costs, with bank borrowings covering the remaining 80%.
"After the completion of the exercise, the properties will be transformed into a manufacturing area and future expansion for the production of food and health supplements,” it said.
The pharmaceutical company YSPI, which also offers management services, stated that it anticipates the deal to close three months after the sales and purchase agreement. The Bernama
Since its founding, has developed into one of Malaysia's most inventive and prestigious pharmaceutical enterprises. A significant turning point in history was reached when the Group successfully listed on the Bursa Malaysia Securities Bhd (Kuala Lumpur Stock Exchange) in 2004 and then switched to the Main Board. This occurred as a result of the Group's increased competence. Today, the Group has regional offices and strategic alliances in Singapore, Vietnam, the Philippines, Myanmar, Cambodia, Thailand, Indonesia, Brunei, Laos, as well as Sri Lanka, Africa, and countries in the Middle East. It also offers a wide range of pharmaceutical, over-the-counter (OTC), veterinary, and aquatic products.
Additionally, Sun Ten Pharmaceutical Co. Ltd., a recognised GMP manufacturer of standardised and concentrated herbal extracts from Taiwan R.O.C., has expanded into traditional herbal goods.