PETALING JAYA: Frontken Corp Bhd is expected to see a 22% lift in core net profit in its next financial year ending Dec 31, 2023, underpinned by the expansion of the group’s second Taiwan plant.
KUALA LUMPUR (April 6): Frontken Corp Bhd s Taiwanese unit is purchasing an industrial property in Taiwan for NT$367.5 million (about RM53.29 million), cash, to expand its production capacity there to support increasing demand from its semiconductor customers.
In a bourse filing, the group said its 91.25%-owned Ares Green Technology Corp (AGTC) has inked a sale and purchase agreement with MH GOPOWER Co Ltd for the purchase. The property comprising an office building with a production area and basement car park with a total built-up area of 10,927 sq m is located on a piece of leasehold land in the Southern Taiwan Science Park. The purchase will be financed with internal funds.
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has entered into a sale and purchase agreement with MH GOPOWER Co Ltd for the acquisition of a building in Kaohsiung, Taiwan for NT$367.5mil (RM53.29mil).
In a filing with Bursa Malaysia Tuesday, Frontken said its 91.25% owned subsidiary Ares Green Technology Corp (AGTC) entered into the agreement with MH for the proposed acquisition.
Frontken said the proposed acquisition would be funded entirely by AGTC via its internally generated funds.
The property sits on a piece of leasehold land situated in the Southern Taiwan Science Park owned by Taiwan Sugar Corporation and managed by Southern Taiwan Science Park Bureau with a total land size of 18,767 sq m.