Qian Hu intends to relocate and consolidate its wholesale and distribution business activities in Malaysia at the property to increase operational synergies and improve efficiencies, compared to the current leasehold premises from which it operates.
Qian Hu Development, a wholly-owned subsidiary of Qian Hu Corporation (SGX:BCV
) , has proposed the acquisition of a property in Selangor, Malaysia for a purchase consideration of RM14.5 million ($4.1 million).
On March 12, Qian Hu announced that the subsidiary had entered into a sale and purchase agreement with Magnum Concept for property, which consists of a 3,695 sqm plot of freehold land and a two-storey warehouse in construction on the land.
