The three parcels of land are located in Johor, Malaysia. The three industrial lands have areas measuring about 3.97 hectares, 2.62 hectares and 1.99 hectares respectively.
Casa Holdings will receive gross proceeds of RM16.3 million, representing 50% of the consideration. The board presently intends to utilise the proceeds for strategic investments, funding operation, funding the expansion of our product range, building new brands and entering new markets.
Shares in Casa Holdings closed at 8.5 cents on Sept 20.
