KAWAN 7216 KAWAN FOOD BERHAD buys lands for RM50.46mil

 KAWAN 7216  KAWAN FOOD BERHAD buys lands for RM50.46mil

KUALA LUMPUR: Kawan Food Bhd’s wholly-owned subsidiary, Kawan Food Manufacturing Sdn Bhd has proposed to acquire five parcels of leasehold industrial land in Shah Alam worth RM50.46mil from RGP Warehouse Solutions Sdn Bhd.

In a filing to Bursa Malaysia, the frozen food manufacturer said the acquisition was in line with its corporate strategy of expanding, growing its operations and diversifying.

“To explore and develop new segments of the industry, manufacture a variety of products including plant-based products etc. in a chilled, ambient environment aside from frozen food.

“This business strategy will provide an opportunity for Kawan to

create greater economic value and increase the earnings potential of the group,” it said.

Kawan Food said the land acquisition was proposed to build and construct for second manufacturing facility for its operations.

“In addition, to expand the cold room facility as a warehouse and cold chain distribution for in-house and external products, equipped with new technology such as robotic automated warehouse etc. to cater for frozen, chilled and ambient food products,” it added.

https://www.thestar.com.my/business/business-news/2022/04/21/kawan-food-buys-lands-for-rm5046mil