D’nonce’s unit buys land in Kulai to build factory

D’nonce’s unit buys land in Kulai to build factory

05 Aug 2022

D’nonce Technology Bhd’s unit is acquiring 32,375 sq metres of vacant industrial land in Kulai, Johor for RM12.2 million to build a new factory.

The group said 82%-owned Attractive Venture (JB) Sdn Bhd is buying the land from ACL Group Sdn Bhd, which is 60% owned by Tang Mei Yean and 40% by Chia Swee Beng.

Attractive Venture, which is involved in the design and conversion of advanced packaging materials and distribution of electronic products, will build a factory building with 120,000 sq feet of floor space that will house its production floor, stores and office, said D’nonce in a filing with Bursa Malaysia.

Attractive Venture’s three currently rented premises located in Kulai Jaya Industrial Park are at full capacity and the current layout is very inefficient for a controlled production business, said D’nonce.

D’nonce, a diversified engineering solutions provider with key customers from healthcare, electrical and electronics (E&E) sectors and other industries, is 29.62%-owned by AT Systematization Bhd, which in turn is an integrated designer and manufacturer of industrial automation systems & machinery.

Shares of D’nonce, which has fallen 54% year to date, closed unchanged at 15.5 sen on Friday, giving the group a market capitalisation of RM58.24 million.

AT Systematization, meanwhile, settled half sen or 33% lower at one sen per share, valuing the group at RM60.01 million.

Source: The Edge Markets