PETALING JAYA: MyNews Holdings Bhd is proposing to acquire a plot of leasehold industrial land measuring 13.5 acres in Rawang, Selangor, from Thung Hing Metal Industry Sdn Bhd for RM24.7mil.

In a filing with Bursa Malaysia, MyNews said the proposed acquisition of the land is a strategic investment supporting the company’s long-term operational and business expansion plans, specifically to construct a new distribution centre – since the company’s existing distribution centre is currently operating at constrained capacity with insufficient room for future growth.

“Securing the land lets the firm move ahead with construction, address capacity constraints, and avoid rising land costs or the shrinking availability of suitable sites, with the new distribution centre expected to enhance supply-chain efficiency.”

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