Hosen Group to construct new detached factory in Malaysia.

The purchase is valued at $2.3m.

Hosen Group, through its subsidiary Hosen Chocolate, has entered into a sale and purchase agreement (S&P) with Greenhill SILC for the acquisition of freehold industrial land for $2.3m (RM7.55m), according to a bourse filing.

Hosen Chocolate has also entered into a construction agreement with Greenhill SILC to construct a 1½ story detached factory on the land.

The construction cost of the building is expected to be approximately RM9.63m ($2.9m)

The newly-purchased land is approximately 6,378.38 sqm. It is located at Mukim of Pulai, District of Johor Bahru, State of Johor, in i-TechValley within the Phase 3 of Southern Industrial and Logistics Clusters in Iskandar Puteri, Johor Darul Takzim.

It has a total built-up area of approximately 41,959.69 sq ft, subject to approval by the Appropriate State Authorities.

(RM1 = $0.299429)

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