PETALING JAYA: Dutch Lady Milk Industries Bhd is considering selling its current factory land in Petaling Jaya, Selangor, following shareholder approval obtained in July for the purchase of land in Bandar Enstek, Negri Sembilan, to construct manufacturing facilities.
In a Bursa filing today, the group also highlighted that the assessment is being carried out in view of the current economic climate brought about by the Covid-19 pandemic.
“As part of the assessment, an independent real estate agent has been appointed to act on behalf of Dutch Lady to seek offers for the lands from the open market by way of a public tender,” it said, adding that final decisions on the lands will be made by its board after the assessment of various scenarios is completed.
The land in Jalan Prof Khoo Kay Kim measures 9.93 acres with a lease expiring in 2059.
The group’s new facilites form part of its plans to improve its manufacturing capabilities to keep up with the increasing demand for its products and with the new customer trends.
However, in a circular to shareholders in June, Dutch Lady said it is too preliminary to ascertain when construction works for the new manufacturing facilities will begin since multiple scenarios are being evaluated.
