Sun Hing Printing (HKG:1975) subsidiary New Horizons Venture confirmed its purchase of land in Indonesia from Kawasan Industri Kendal for about HK$24.3 million, a Wednesday Hong Kong bourse filing said.

The land, designated for industrial use, spans 29,664 square meters, the filing said.

The group plans to utilize the property to expand and diversify its production facilities in Indonesia.

The acquisition will be funded through the internal resources of the group.

The printing products company's shares closed over 1% lower on Wednesday.

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