Asia
Magni-Tech Industries to Buy Penang Land for MYR133 Million
Magni-Tech Industries (KLSE:MAGNI) unit Magni Land signed an agreement to acquire a freehold land parcel in Penang, Malaysia, according to a Tuesday filing with Bursa Malaysia.Shares of the apparel maker gained 1% in Wednesday's midday trade.The 19,080-square-meter property is being purchased from Neoh Choo Ee & Co. for 133.3 million ringgit.Magni-Tech intends to use the property for potential development or long-term investment.
KLSE:MAGNI
