Xinghe Holdings (01891) announcedTiger'sLoot, on April 30, 2024Tiger'sLoot, East China Metallurgy Sdn Bhd, an indirect holding subsidiary of the company, plans to acquire two properties from ISO Concrete Products Sdn Bhd at a total purchase price of RM13.5 million (equivalent to approximately HK$22.14 million).

All properties are located in Mukim of Teluk Kalung, District of Kemaman, State of Terengganu, Malaysia, with a total land area of approximately 127,949 square meters.

The directors believe that the strategic location of the property (only 7 kilometers from Teluk Kalong Industrial Area and only 3 kilometers from the MIEL Industrial Area), both of which are known for their active industrial activities in Terengganu State, Malaysia, provides the buyer with a clear geographical advantage. Taking into account that most of the buyer's existing and potential customers are located in or conducting business operations in areas adjacent to these areas, the proximity of the property to these industrial areas can further enhance service delivery, enhance customer experience and enhance the relationship between the buyer and its customers.