CPE Technology to buy RM14.5 million factory property in Johor
IPO proceeds will finance the purchase, which the group expects to complete by the third quarter of FY2027.
CPE Technology Bhd has agreed to acquire a RM14.5 million factory property in Ulu Tiram, Johor, through its wholly owned subsidiary as it seeks to expand manufacturing capacity. This marks its second property purchase in the area within less than three months.
The group said in a Bursa Malaysia filing that Champion Precision Technology Sdn Bhd (CPT) had signed an agreement to buy the property from Logitech Engineering Solutions Sdn Bhd. It expects the transaction to be completed by the third quarter of FY2027, its financial year ending June 30, 2027.
The Taman Perindustrian Gemilang site covers approximately 0.4081 hectares (1.01 acres), with a two-storey factory and an office building of three storeys. According to CPE Technology, the purchase would create room for new manufacturing lines near its current factories.
Funding will come from the group's initial public offering (IPO) proceeds. CPE Technology raised RM179.58 million through the IPO, with some of that money allocated to manufacturing facility expansion.
In August, the group announced a separate RM10 million purchase of a 0.99-acre factory property in Ulu Tiram, together with machinery costing RM21.02 million. The planned property investments total RM24.5 million, rising to RM45.52 million when those machinery purchases are included.
