KUALA LUMPUR (Dec 17): Dutch Lady Milk Industries Bhd said it will spend RM340 million to construct new manufacturing facilities on three parcels of land in Bandar Enstek, Negeri Sembilan that it bought this year.
In a filing with Bursa Malaysia, the group said the facilities will include manufacturing and warehousing facilities, support facilities and office facilities. They will be used for the manufacturing of the group’s dairy products with capacity and space for the manufacturing of other variations that it may produce.
Dutch Lady said the facilities will be environmentally friendly and safe and will introduce new technology which will improve the groupâ€™s efficiency and productivity.
The facilities will be constructed between 2021 and 2025, the group said, adding that it will use internal funds for the investment.
The investment, Dutch Lady said, is in line with the groupâ€™s long-term plans of improving its manufacturing capabilities to keep up with the demand for its products and with new consumer trends which will strengthen its ability to provide the goodness and nutritional value of milk to its customers.
The group had announced in March that it spent RM56.79 million to acquire the three parcels of land measuring 32.59 acres from Pelaburan Hartanah Bhd, the real estate investment holding company of Yayasan Amanah Hartanah Bumiputera.
Dutch Ladyâ€™s share price closed down 20 sen or 0.53% at RM37.74 today, for a market capitalisation of RM2.42 billion. There were 14,000 shares transacted. Year to date, the counter has fallen by 23%.