Kian Joos Vietnam unit expands in Vietnam

08-Dec-2010 Intellasia | The Edge | 4:45 PM

Kian Joo Can Factory Bhds (KJCF) unit in Vietnam is acquiring a piece of leasehold industrial land in VSIP Bac Ninh, Bac Ninh Province for US$1.62 million for its expansion plans .

KJCF said on Friday, Dec 3 that Box-Pak (Vietnam) Co Ltd, a unit of its unit Box-Pak (Malaysia) Bhd, had entered into a conditional letter of offer with VSIP Bac Ninh Co Ltd, the developer of VSIP Bac Ninh, to acquire the land measuring 25,762 square meters.

It said the acquisition was to expand Box-Pak (Vietnam)s carton manufacturing operations in Vietnam.

KJCF said the land lease expiry date was Nov 30, 2057 and the acquisition would be funded by bank borrowings.

http://malaysia.news.yahoo.com/edge/20101203/tbs-kian-joos-vietnam-unit-expands-in-vi-56d1cf5.html