Swang Chai Chuan Limited (HK:2321) has released an update.
Swang Chai Chuan Limited has disclosed the acquisition of a sizable piece of industrial land in Pulau Pinang, Malaysia, purchased by its subsidiary Chop Chin Huat for RM11.86 million (about HK$19.69 million). The transaction falls under a discloseable transaction category, not requiring shareholder approval but necessitating reporting and announcement as per Listing Rules. The strategic land acquisition promises potential growth and expansion opportunities for the company.
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