1. The purchase consideration for the plot of freehold land is RM43.012 million.

2. The freehold land will be used as AYS Group’s warehouse and operation facility.

KLANG, 16 December 2020 – AYS Ventures Berhad is acquiring a plot of freehold land in Klang for RM43.012 million to be used as a new warehouse and operation facility.

“The land acquisition will enable us to facilitate our continued growth and expansion, as we move towards regionalisation,” said Ms. Jess Oh Pooi Foon, AYS Ventures Berhad’s Group Managing Director. In a filing with Bursa Malaysia, AYS said the acquisition of the plot of freehold land, measuring 23.51 acres, will allow AYS Group to expand its warehousing capacity and indirectly to increase its turnover. The company also stated that the acquisition is part of its business development plan to consolidate all its warehousing operations in one single location for operational efficiency and optimisation.

AYS said that the group is acquiring the plot of freehold land via its wholly-owned subsidiary, Ann Yak Siong Hardware Sdn Bhd, from Golden Valley Industries Sdn Bhd – a subsidiary of Klanggroup Holdings Sdn Bhd.

“The purchase consideration will be funded by a combination of internally generated funds andexternal borrowings. The actual amount of the external borrowings will be decided after taking into consideration, the Group’s gearing level, interest cost as well as internal cash required for the Group’s business,” AYS said. Assuming that the acquisition had been effected at the end of the financial year ending 31 March 2021, the group’s net assets per share and gearing will be RM0.68 and 1.50 times based on the latest audited financial statements as at 31st March 2020.

The acquisition is expected to be completed in the last quarter of the financial year ending 31 March 2022.

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About: AYS Ventures Berhad (5021) is a public company listed on the Main Market of Bursa Malaysia since 9 May 2012. AYS Ventures is an investment holding company. Its subsidiaries are principally involved in distribution of steel products & construction materials, manufacturing of structural steel components, providing warehousing and storage services in Port Klang Free Trade Zone as well as providing services on 3D modelling of construction project for BIM purpose.

For more information, please contact:
Mr. Oh Yung Sim
Deputy Group Managing Director
AYS Ventures Berhad
aysh@ays-group.com