QES Group Bhd has entered into a sale and purchase agreement with Astronautic Technology Sdn Bhd for the acquisition of a five-storey factory in Hicom Glenmarie Industrial Park, Shah Alam, via its wholly owned subsidiary QES Sdn Bhd for a cash consideration of RM21 million.
It said the purchase consideration of RM21 million was reached at a willingbuyer -willing seller basis, after taking into consideration the prime location of the property and the prevailing market value of properties in the surrounding area. QES managing director and president Chew Ne Weng commented that the proposed acquisition is in line with the group’s expansion plans to increase its existing manufacturing capacity by commissioning new production lines.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: