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Flash Note – Kossan (ADD, maintain) - Buying land to expand its glove capacity




Affin Hwang Investment Bank Bhd


18 Feb 2013





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Acquiring a 56-acre piece of land for RM35.4m cash In a Bursa announcement yesterday, Kossan (KRI) announced that its wholly-owned subsidiary Getah Asas Sdn Bhd has entered into a Sale and Purchase agreement with Medalion Palms Sdn Bhd for the acquisition of a piece of freehold industrial land located in Lot 409, Mukim Batang Berjuntai, Daerah Kuala Selangor, Selangor. The purchase price for the piece of land, measuring 56-acre or 2.44m sq.ft is RM35.37m, and the deal is expected to be completed by 1QFY14.

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