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BMS to Acquire Industrial Property for MYR24 Million; Shares Drop 4%

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BMS (KLSE:BMS) unit Jubin BMS (1990) made an offer to acquire a freehold industrial property in Selangor, Malaysia, for 23.8 million ringgit in cash, according to a Thursday Malaysian bourse filing.

Shares slid about 4% in Friday's afternoon trade.

The property, comprising a workshop and offices on a 4,555-square-metre site, will be used as a retail showroom, office and storage facility to support the group's expansion plans.

The purchase will be funded through a combination of internally generated funds and bank borrowings, it said.

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