Far East's (SGX:5TJ) subsidiary, Far East Refrigeration (M), has agreed to acquire a property in Malaysia from Kemudi Ehsan for 22.7 million ringgit, according to a Wednesday filing with the Singapore Exchange.

The property spans an area of 50,181 square feet and includes a detached factory.

The property is currently under development. The acquisition is aimed at consolidating the unit's logistics operations.