By Gho Chee Yuan
KUALA LUMPUR (Dec 20) -- Malaysia's Goh Ban Huat, a bathroom products maker, said Wednesday it plans to buy several properties and 46 pieces of land in the state of Johor via related-party transactions for 143 million ringgit ($35.11 million) in cash.
The company also proposes to diversify its core business to include construction and property development to broaden its income stream, according to an exchange filing.
Goh Ban Huat has signed pacts with Pekan Nenas Industries, Pekan Nenas Development and Jayaplus Development for the proposed acquisitions. Several board members of the company namely Tan Eng Boon, Edwin Tan and Godwin Tan have interest in the transactions as they are also substantial shareholders in the seller companies.
Barring any unforeseen circumstances, the company aims to complete the deal by the first quarter of 2018.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363
- Edited By Shreejay Sinha
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.