UMS acquires land parcel in Penang for expansion

UMS acquires parcel of land in Penang for $4.5 million near new factory.

UMS Holdings wholly-owned subsidiary, Ultimate Manufacturing Solutions, has invested RM15.23 million ($4.5 million) to acquire a new 5.38 acres, or approximately 235,000 sq ft, of a 60-year leasehold industrial land site in Penang Science Park North, Malaysia.

With the latest addition, UMS will have a total over 1,200,000 sq. ft. of combined space in Singapore and Malaysia to meet new demands of key customers.

Commenting on the new acquisition, Andy Luong, UMS's chairman and CEO, says: "The new land parcel is well located next to our new factory in Penang. This latest investment underscores our commitment to expand our operations and to provide the best-in-class facilities to support the growing manufacturing needs of our clients and potential clients as the group continues to benefit from the increasing shift of global semiconductor supply chains into the region."

Shares in UMS closed 1 cent lower, or 0.85% down, at $1.17 on July 1. 

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