APEX Healthcare Bhd has put forth a proposal to acquire industrial land in Melaka for RM66.5 million.
In a recent filing to Bursa Malaysia, the company revealed that its wholly-owned subsidiary, Xepa-Soul Pattinson (M) Sdn Bhd, has entered into a sale and purchase agreement with Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd (PAPRDMY) for the intended acquisition.
The strategic location of the PAPRDMY site, situated across the road and 400m from Xepa’s existing production site within the same industrial estate, provides operational advantages by minimising duplication of support services.
This proximity is particularly advantageous in achieving lean management practices, especially if expanded production facilities are established at a nearby site.
Moreover, the existing industrial buildings on the proposed site have been assessed as suitable for retrofitting to meet Xepa’s manufacturing requirements, offering cost-effective alternatives to new construction.
The timing of the Panasonic site’s availability aligns with Xepa’s plans to significantly expand its warehousing and liquid production capacity.
The proposed acquisition, expected to be funded through a combination of internally generated funds and/or external borrowings, is anticipated to be completed on or after July 31, 2024, barring any unforeseen circumstances. — TMR
- This article first appeared in The Malaysian Reserve weekly print edition