Multi Sports to acquire land in Jinjiang, Fujian

Date Added: September 28, 2009 05:58:35 AM

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Category: Construction Materials Stocks: construction materials stocks

MULTI Sports Holdings Ltd has agreed to buy a 3.12ha land in Xibin town, Jinjiang City, Fujian Province, together with two completed factory buildings for RM15.02 million cash.

The acquisition will be funded internally, oven mitt as well as with proceeds from its recent listing exercise.

"The acquisition of the land in Xibin will allow Baixing Shoe Material Co Ltd, a wholly-owned unit of Multi Sports, to fast-track its expansion plans,” it said in its filing to Bursa Malaysia.

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