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Oriental Kopi Holdings Bhd is proposing to acquire a parcel of leasehold land measuring 5,260.8 sq m in Kuala Langat, Selangor, from Icon Facade Sdn Bhd for RM23mil.
In a filing with Bursa Malaysia, the food and beverage firm said the property on the land is currently rented by Oriental Kopi as its head office and warehousing facility.
The acquisition will result in cost savings arising from rental and logistics expenses and help prevent the risk of losing the right to use the property. It will be funded through a combination of internally generated funds and/or bank borrowings.
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