Wednesday, November 9, 2011

Sinaria buys Sg Buloh land for RM6.5m for warehouse

KUALA LUMPUR (Nov 9): Sinaria Corporation Bhd is acquiring a piece of leasehold land in Sungai Buloh, Selangor for RM6.5 million to build a warehouse and distribution centre.

The company said on Wednesday, its unit Sunwish Venture Sdn. Bhd had signed a sale and purchase agreement with the vendors Chow Thin, Chow Sang and Chow Tuck Chor to acquire the land. The lease for the 1.37 ha site lease expires in September 2055.

'The acquisition will facilitate the setting up of new warehousing and distribution channel by Sinaria group at the land to cater for its sales in central and southern Peninsular Malaysia and to secure more market share for its products,' it said.

Sinaria said the new distribution would reduce the cost of distribution due to its central location where the transportation costs from Port Klang to the company's warehouses for imported goods will be lower in Sungai Buloh, Selangor than Sungai Petani, Kedah.

'The strategic central location will also enable the company to be more competitive in the market due to more competitive pricing from the lower transportation costs. Service level will also be better due to its proximity resulting in better market penetration,' it said.

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