Wednesday 19 Feb 2025
Venture Corp completes $11 mil Malaysia property acquisition
05 Jul 2016, 06:48 pm
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Venture Corporation

SINGAPORE (July 5): Venture Corporation on Tuesday announced it has completed the acquisition of a plot of land in Malaysia’s Batu Kawan Industrial Park for RM 33.3 million ($11.2 million).

Situated in Penang, Malaysia, Plot 318 Batu Kawan Industrial Park has a land area of approximately 30.57 acres and a leasehold interest of 60 years expiring on 18 February 2074.

The acquisition was conducted through Venture Corp’s subsidiary Venture Electronics Services (Malaysia).

“All the relevant approvals have been obtained and condition precedents have been fulfilled,” Venture Corp said in an announcement, adding that the property will be used for Venture Electronics Services’ operations and business activities.

Venture Corp says the acquisition was funded by internal resources, and is not expected to have any material impact on the Company’s earnings per share or net tangible assets per share for the current financial year ending 31 December 2016.

Venture Corp closed 1.2% higher at $8.46 on Tuesday

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