KUALA LUMPUR (Jan 19): Oldtown Bhd is investing RM36.65 million in a new factory in Tasek Industrial Estate, Perak to expand its beverage manufacturing operations.
Oldtown said on Thursday, its unit White Cafe Sdn Bhd, would be able to increase the capacity by 500% with the new factory.
It said the tender for the new factory was awarded to Sg. Besi Contruction Sdn Bhd for RM36.65 million.
“The CONSTRUCTION [] period shall be for eight calendar months from the planned date of site possession on Feb 1, 2012. It is expected to be completed by third quarter of year 2012,” it said.
Oldtown said the financing of the projects would be from the IPO proceeds, bank borrowings and its own funds.
Oldtown said on Thursday, its unit White Cafe Sdn Bhd, would be able to increase the capacity by 500% with the new factory.
It said the tender for the new factory was awarded to Sg. Besi Contruction Sdn Bhd for RM36.65 million.
“The CONSTRUCTION [] period shall be for eight calendar months from the planned date of site possession on Feb 1, 2012. It is expected to be completed by third quarter of year 2012,” it said.
Oldtown said the financing of the projects would be from the IPO proceeds, bank borrowings and its own funds.
