PETALING JAYA: Kimlun Corp Bhd

is acquiring two adjacent parcels of freehold land totalling 1.883 hectares in Kulai, Johor from Pang Tin @ Pang Yon Tin (a director and substantial shareholder of the company) for RM3.65mil.

In a filing with Bursa Malaysia, the engineering and construction services provider said the proposed acquisition aims to provide the group with additional storage area for construction materials and machinery for their construction projects located in the Northern part of Johor Baru.

Kimlun said the acquisition is not expected to have a material effect on its earnings per share and net assets per share.

It added that the acquisition will not have any effect on its gearing as the purchase price will be satisfied wholly in cash from internally generated funds.

“The properties are located along Jalan Dasa 1 and Jalan Dasa 3 in Taman Dasa, Senai, Johor.

“The properties are approximately 1km North-West of the Senai town centre and approximately 8km North-East of Kulai town centre.”