Life Water to acquire RM15 million Sabah property for expansion
The property will serve as a warehouse, with RM12.75 million of the purchase price to be financed through bank borrowings.
Life Water Bhd plans to expand its warehouse space through a RM15 million industrial property acquisition in Kota Kinabalu, Sabah. The company said its wholly owned subsidiary, Green Borneo Industries Sdn Bhd (GBI), signed the purchase agreement on Oct 7 with Kee Foh Haw Sdn Bhd.
According to Life Water’s bourse filing, the financing comprises RM2.25 million from internally generated funds and RM12.75 million from bank borrowings.
Located at KKIP Selatan in Kota Kinabalu Industrial Park (KKIP), the property comprises a 1.21-hectare land parcel, an office complex built for that purpose and an ancillary workshop. Its built-up area is about 1,793 sq m.
The company intends to use the premises for warehousing. The property is held under a 99-year lease that expires on Dec 31, 2110.
Life Water said GBI already has manufacturing operations within KKIP. It expects the location to support more efficient operations while giving the group additional room to expand its business in future.
