EG Industries Unit to Buy Industrial Land in Thailand for MYR6 Million

MT Newswires Live

01/26

EG Industries (KLSE:EG) unit SMT Industries agreed to acquire a 4.95-acre freehold industrial land in 304 Industrial Park, Prachinburi, Thailand, for 6.1 million ringgit, according to a Friday Malaysian bourse filing.

Shares slid about 2% in Monday's afternoon trade.

The land will be used to construct a single-storey factory to support production of electricity storage components, electric vehicle parts, and data centre products for prospective U.S.-based customers.

The company will fund the acquisition through a mix of internally generated funds and bank borrowings.

The project is expected to be completed by end-2026, it added.

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