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PETALING JAYA (May 15): ACE Market-listed WTEC Group Bhd is acquiring an industrial building in Semenyih, Selangor for RM10.80 million to consolidate its manufacturing operations under one roof, according to its Bursa announcement.
Through its wholly-owned subsidiary WTEC Sdn Bhd, the company signed a sale and purchase agreement (SPA) yesterday with Athens Park Machineries Sdn Bhd for the acquisition of a factory complex at No 13, Jalan 6/9, Seksyen 6, Bandar Rinching, 43500 Semenyih, Selangor.
The subject property — held under HSD 116275, PT 28724, Mukim Semenyih, Daerah Ulu Langat — comprises a three-storey office and an annexed single-storey warehouse with ancillary buildings, sitting on a provisional land area of approximately 4,038 sq m (43,465 sq ft) with a gross floor area of about 2,471 sq m (26,605 sq ft).
The building is approximately six years old and was appraised at RM10.80 million by an independent valuer on April 24, 2026.
The purchase consideration will be funded through a combination of IPO proceeds earmarked for factory acquisition (RM9.42 million) and internally generated funds (RM1.38 million). WTEC Group listed on Bursa Malaysia's ACE Market on April 29, 2025, with Alliance Islamic Bank Bhd as its sponsor.
The company said the acquisition is in line with its expansion plan disclosed in its IPO prospectus, which outlined intentions to consolidate manufacturing operations currently spread across four facilities into a single factory.
The property's location in an established industrial area offers connectivity via the Kajang-Seremban Highway, SILK Highway and Cheras-Kajang Expressway, and is approximately 40km southeast of Kuala Lumpur city centre and 18km from Kajang.
The current tenant, Premmega Construction Sdn Bhd, is expected to vacate the premises by August 20, 2026, after which WTEC Group will take over for its own use. The acquisition is expected to be completed by the third quarter of 2026.
The acquisition does not require shareholders' approval. The highest percentage ratio applicable under the ACE Market Listing Requirements is 18.33%, computed based on the purchase consideration against the group's net assets as at its latest audited financial statements for the financial year ended Dec 31, 2025.
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