PETALING JAYA: EI Power Bhd is proposing to acquire a piece of freehold land in Shah Alam, Selangor measuring 1,495.09 sq metres, together with a two-and-a-half storey semi-detached factory erected thereon, from Elitesoft Asia Sdn Bhd for RM17.2mil.

In a filing with Bursa Malaysia, EI Power said the proposed acquisition will provide the group with additional office and warehouse capacity to accommodate its growing workforce, storage requirements and operational activities, while catering for its evolving business needs.

“The property comprises existing office and warehouse facilities which are fit for use and suitable for the group’s operational intended use.

“This will enable the group to commence operations at the property upon completion of the necessary fit-out and setup works, without the need for significant structural development, thereby facilitating the group’s expansion plans and enhancing its operational readiness.”

The company added that the acquisition will also allow the group to establish a permanent headquarters cum warehouse in Selangor, reducing its long-term reliance on rented premises and providing greater certainty over the availability of suitable premises for its operations.