GHW INTL (09933) announced that on February 19, 2024, GHW, a wholly-owned subsidiary of the company...
According to Zhitong Finance App, GHW INTL (09933) announced that on February 19, 2024, GHW International (Malaysia) SDN BHD, a wholly-owned subsidiary of the company, plans to acquire a plot of land located in Mukim Gebeng, Daerah Kuantan, and Negeri Pahang, Malaysia from MCKILP Development SDN BHD at a cost of 37.26 million ringgit.
The plot includes industrial land in Mukim Gebeng, Daerah Kuantan, Negeri Pahang, Malaysia. After making all reasonable inquiries by the directors, it is well known that the remaining period of the plot is approximately 41 years, ending on May 25, 2065.
According to the announcement, the group currently has two production plants, located in Tai'an City, Shandong Province, China and Binh Duong Province, Vietnam, which are engaged in the production of choline chloride and other chemicals. In response to the country's “Belt and Road” policy and decentralize the company's production system to Southeast Asia, the company chose Malaysia as the next expansion site to produce cholesteryl chloride, betaine and other chemicals. The expansion plan not only reduced geopolitical risks, but also increased the company's production flexibility and optimized the use of natural resources. The company anticipates that this expansion will also increase the market share of the company's above products.
The plot is located in the Malaysia-China Kuantan International Logistics Park. It is a comprehensive industrial park integrating international logistics, processing and manufacturing. The company believes that the acquisition and subsequent construction of a production plant on the site will facilitate the company's international trade business. The Board of Directors believes that the acquisition is in the overall interests of the Group and shareholders.