KUALA LUMPUR (July 22): MyNews Holdings Bhd (KL:MYNEWS) said it is acquiring 13.5 acres of industrial land in Rawang for RM24.7 million in cash to build a new distribution centre.

The land is currently vacant and has a remaining lease tenure of 69 years, the company said in a bourse filing on Wednesday.

MyNews said the land will support its long-term expansion plans, as its existing distribution centre is operating at constrained capacity.

"The new distribution centre is expected to enhance supply chain efficiency, strengthen the company's asset base and support continued business expansion over the medium to long term," said the convenience store operator.

The group is buying the land via its wholly-owned subsidiary MyNews Retail Sdn Bhd, from Thung Hing Metal Industry Sdn Bhd, a company engaged in the fabrication and installation of ventilation ducts and metal roofing, and sales of metal roofing products.

MyNews said the purchase consideration will be 15% financed internally and the balance through borrowings.

The group had a total borrowings of RM92.75 million as at April 30, 2026, while it had cash and balances of RM22.03 million.

MyNews’s share price closed unchanged at 43.5 sen on Wednesday, giving the group a market capitalisation of RM326 million.

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